FAST presented research and best practices to support the launch of an initiative on Trafficking in Human Beings (THB) during the 22nd Europol Financial Intelligence Public Private Partnership (EFIPPP) Plenary, which took place at Europol’s headquarters in The Hague, Netherlands from 29 November to 1 December. This three-day event brought together more than 130 representatives from civil society, financial institutions, international organizations, law enforcement agencies, and financial intelligence units in 25 countries.
The Plenary focused on the vital contribution of the financial sector in preventing human trafficking. The agenda of the Plenary included presentations, breakout sessions, and expert panels aimed at enhancing participants' understanding of trafficking and effective detection methods. Collaborative monitoring efforts between participating institutions led to the identification of activities associated with exploitation, forced labour, and online child sexual exploitation. During the Plenary, there was an emphasis on the growing significance of Open Source Intelligence (OSINT) and innovative intelligence approaches in combatting trafficking.
One highlight was FAST’s presentation of findings from EFIPPPs THB working group on Transaction Monitoring for THB. These findings were informed though identifying indicators and successfully conducting trials across banks. Under FAST’s leadership, the EFIPPP working group of 24 organizations including Europol, OSCE, five Financial Intelligence Units (FIUs), two law enforcement agencies, and prominent financial institutions all demonstrated the value of collaboration against trafficking. FAST also organized a breakout session titled "Transaction Monitoring Indicators".
Malaika Oringo, CEO of Footprint to Freedom, emphasized how important it is for the financial sector to support trafficking victims and survivors and highlighted the need for inclusive private partnerships to be effective.
The event shed light on a growing prioritization of Public-Private Partnerships (#PPPs) for fighting crime, and particularly to address human trafficking and other forms of modern slavery.
EFIPPP represents an advancement in intelligence-gathering and advancement of security by promoting cross-border cooperation and information exchange among Europol competent authorities such, as financial intelligence units, law enforcement agencies, and regulated financial service entities.
