How to Follow the Money of a Human Trafficker: 'Epstein' Scenario

In Scenario #3003: ‘Epstein’ scenario, we overview the red flags discovered in a bank’s data – and how investigators “follow the money.” This is one of many scenarios the RedFlag Accelerator has developed for use in banking financial crime (specifically, human trafficking) investigations.

Human Trafficking is one of the most widespread financial crimes in the world, generating billions of dollars annually and exploiting millions of people worldwide. Every four seconds, somewhere in the world, someone becomes a victim of human trafficking and exploitation. However, to date, less than 1% of criminal proceeds flowing through our banks actually gets detected, and of that only 0.8% of traffickers are prosecuted – while a mere 0.2% of victims are rescued annually. The time to act is now!

Banks have a key role to play in this fight that begins with detection in financial data. Even high-profile customers can use the banking network, products, and services to transfer and launder illegal profits. And yet, while banks have access to masses of data on both traffickers and their victims, finding the signs of human trafficking can be like looking for a needle in a haystack. We know it is hard. It is because of knowing this, that we have developed the RedCompass Labs RedFlag Accelerator – the award-winning, largest single source of modern slavery, human trafficking, and child sexual exploitation red flags for financial services.

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