Category: Human Trafficking

US Sanctions Myanmar Militia Tied to Cyber-Scams, Human Trafficking

Human Trafficking, Sanctions
The U.S. has slapped sanctions on a militia aligned with Myanmar’s ruling military junta, accusing the group of facilitating cyber-scam operations that have bilked billions from American victims over the past three years. The U.S. Treasury Department designated the Karen National Army (KNA) as a “transnational criminal organization” on Monday, and also sanctioned three of its leaders: Saw Chit Thu, and his two sons, Saw Htoo Eh Moo and Saw Chit Chit. The KNA runs a large territory on the frontier with Thailand that “is home to multiple cyber scam syndicates,” Treasury said in its announcement. The syndicates rely largely…

Modern Slavery and Human Trafficking: An Expanding UK Market

Human Trafficking
This is the second in a series of articles on the top 10 serious and organised crime threats to the UK and their evolution over a decade. This article traces the journey of the threat posed by modern slavery and human trafficking, which has risen rapidly up the policy agenda over a decade. Across the globe, supply chains of every description are tainted by exploited labour. The UK is no exception: here as elsewhere, labour is often the greatest cost to business. Reducing this cost offers the fastest route to increased margins. For some businesses, they will use whatever means…

Barclays Freezes £22m Worth of Bonus for Ex-Boss Staley amid Epstein Inquiry

Human Trafficking
Barclays has announced record profits and raised its bonus pool to nearly £2bn, in a high pay bonanza that the bank said was spurred by a battle for talented staff. The London-headquartered lender increased the bonus pool for its existing staff by more than 17% to £1.3bn, after annual profits more than doubled thanks to the release of cash originally put aside to cushion the blow of the Covid crisis. Including deferred bonuses, the total bonus pot grew 23% to £1.9bn. Barclays said it had 700 bankers on its payroll who were paid more than €1m a year (£834,365), 33…

Human Trafficking a Serious Money Laundering Concern For Financial Institutions

Human Trafficking
BAE Systems data reveals human trafficking is one of the top 5 biggest financial concerns for banks and insurers Money laundering techniques are now harder to spot and stop Financial compliance professionals blame ‘stagnant’ rules and regulations for hindering efforts to tackle money laundering LONDON–(BUSINESS WIRE)–#AML–Human trafficking is now one of the biggest concerns for compliance professionals across the globe, according to the latest annual anti-money laundering study from BAE Systems: The State of Anti-Money Laundering 2021. According to the latest data, over three quarters (77 per cent) of compliance professionals admit they are not confident that money laundering crimes…