As a financial professional, safeguarding your company’s staff and assets from organized financial crime and fraud is crucial.
According to the US Department of State, “Human trafficking is a widespread and highly profitable crime that generates an estimated $150 billion worldwide per year with a significant portion of those profits passing through legitimate financial services businesses.”*
Many credit union and retail bank executives and managers are not aware that human traffickers help drive organized financial crime and financial fraud, making it essential to be vigilant and proactive in combating this issue. Traffickers often force victims to commit financial crimes or fraud, to make people they are already exploiting face the risks of arrest and imprisonment, while avoiding detection themselves. According to Polaris, “Most traffickers will utilize legitimate financial institutions in a variety of ways including using prepaid credit cards, making bank accounts in [sic] for victims or businesses, encouraging victims to transfer money using money remittance services to pay for recruitment fees, etc.” Any stolen money benefits the traffickers, not their victims.
Financial fraud enables traffickers to launder money and profit from their victims in addition to forcing them into commercial sex or other types of labor. Since victims of human trafficking are often forced to attempt fraudulent transactions, credit unions and retail banks can help stop both fraud and human trafficking by training their employees to identify behavioral indicators of human trafficking and respond promptly.
"It is essential that financial institutions train staff on techniques human traffickers use to launder money and the behavioral and financial red flag indicators of human trafficking. Trained customer-facing staff can recognize, document, and report behavioral indicators of human trafficking."
Office to Monitor and Combat Trafficking in Persons, U.S. Department of State*
BEST (Businesses Ending Slavery and Trafficking) equips credit union and retail bank executives and their staff with the knowledge and skills to recognize and respond effectively to signs of human trafficking through our online BEST Basics training. Through BEST Basics, you and your staff will gain valuable insights into how to spot human trafficking and intervene appropriately. This training is engaging, efficient, economical, and practical -- ensuring that your team is well-prepared to handle these critical situations.
Engaging and Efficient: Our 30-minute online training is designed to be engaging and easy to complete on any type of device. In contrast to other trainings that use voicedover slides or animated graphics, BEST Basics includes firsthand accounts from human trafficking survivors, law enforcement, and business leaders. Knowledge checks and concrete action steps to help staff understand, remember, and effectively apply the information provided.
Economical: Our training is cost-effective. For example, for 250 staff members, the cost is less than $10 per employee. The pricing model is scalable, so the more staff you train, the lower the cost per employee.
Practical: You will learn to identify the signs of human trafficking, the appropriate steps to take when you suspect trafficking is occurring. This knowledge is crucial in reducing losses, protecting your business, and ensuring the safety of your customers and employees.
To learn more about BEST Basics training, please enter your contact information below. We’ll provide you with a custom quote and answer any questions you may have
BEST provides employers with solutions to counter human trafficking and drive traffickers out of business. By using BEST Basics with your staff, you proactively create safer and more ethical financial services. You also contribute to a larger movement to eradicate human trafficking and support the victims of this horrible crime.
In addition to our employee-addressed training, BEST offers a variety of resources and support services to help businesses combat human trafficking. These include policy development assistance, awareness campaigns, and access to a network of experts and organizations dedicated to ending human trafficking. Visit bestalliance.org to explore these resources and learn how you can get involved.
Don’t wait until it’s too late. Equip your team with the knowledge and skills they need to combat organized crime, prevent human trafficking, and protect your financial institution. Contact us today to get started with BEST Basics training.
