What is Human Trafficking?

Human trafficking is trafficking for sexual slavery, labor exploitation, or sexual exploitation for traffickers or others. Forced marriage, removal of organs or tissues, and surrogacy are among the most common examples of human trafficking.

Human trafficking prevents the victim's free movement through coercion, which is a crime by their human rights. Human trafficking is a crime that crosses international borders. Millions of men, women, and children are trafficked around the world every year. Traffickers can use promises such as violence, manipulation, well-paid jobs, or romantic relationships to lure victims into trafficking situations. 

Victims can be prevented from seeking help for reasons such as language barriers. Criminal organizations use fraud and coercion to coerce their victims. They choose sensitive people who have problems due to psychological and emotional fragility, economic difficulties, lack of social safety net, and natural disasters. Due to the trauma caused by the traffickers, victims may not identify as victims.

Human trafficking is one of the fastest-growing criminal organizations across international borders. In 2004, estimated revenue of $ 7 million to $ 9.5 billion was generated for this crime.According to the United Nations data, it is estimated that approximately 2.5 million people living in 127 different countries were smuggled into 137 different countries in 2008. The cost of a human trafficking victim to the organization is thought to be estimated at around $ 90.

Human Trafficking and Money Laundering

Perpetrators of human trafficking convert their income into legitimate funds through money laundering methods. The financial flows from human trafficking are very diverse, so it is not easy to spot income laundering attempts. Regulators have set certain red flags to prevent human trafficking. These are;

  • Depositing large amounts of money into accounts and withdrawing cash from cities close to the borders.
  • Card transaction patterns in equal amount between 22.00 - 06.00 hours
  • Multiple victims are sharing bank account information such as phone numbers or addresses.
  • Sudden deviations from expected customer account activity.
  • Using anonymous financial instruments to pay bills.
  • Legislation is structured in multiple physical banking locations.

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