Frictionless KYC & AML

Webinar: Identifying human trafficking through AML and alternative data

1st December, 2020 @ 3PM GMT / 10AM EST - 45 mins

 

Human trafficking remains a disturbingly large global problem. An estimated 40.3 million victims are trapped in modern-day slavery: 24.9 million of those are involved in forced labour, with 16 million exploited in the private sector.

The illicit proceeds gained from this criminal activity present great risk for banks. While Anti-Money Laundering processes do offer some help in fighting human trafficking, by identifying and tracing the complex networks at play, more can be done. Alternative datasets, including trade, satellite and transaction records, offer new ways for banks to mitigate their exposure however, in the hope of bringing traffickers to justice.

We are thrilled to be joined by Steve Farrer, a recognised expert in working in the financial sector to help fight human trafficking, for this webinar. Steve will join Arachnys CEO David Buxton to discuss some of the most pertinent issues today, and how banks can use AML and alternative data to help reduce human trafficking.

In this webinar our speakers will look at:

  • The impact of forced labour and why banks need to be aware
  • How Anti-Money Laundering frameworks can reduce human trafficking
  • Four ways that banks are at risk 
  • Proactive warning on risk - identifying patterns using alternative data
  • The role of adverse media monitoring
  • Unpicking supply chains through trade data and corporate registries

Speakers

Steve Farrer, MBA CAMS CFE

Steve Farrer

Steve Farrer MBA CAMS CFE is actively involved in working with the financial services sector, under the anti money laundering (AML) framework, to help identify and mitigate the illicit proceeds from human trafficking (modern slavery).

Previously the head of an NGO team to proactively inform financial institutions on large-scale trafficking incidences, Steve has been involved with the Financial Action TaskForce (FATF), the Egmont Group of Financial Intelligence Units (Egmont) and the AsiaPacific Group on Money Laundering (APGML). He was also the regional head of intelligence for a global financial institution, covering Greater China and North & East Asia, leading a world-class team, pioneering the use of open source intelligence and techniques to proactively identify and mitigate anti money laundering risk. 

David Buxton, CEO Arachnys

David Buxton

David is a former investigator for international risk consultancy Control Risks, where he advised banks, law firms and leading multinationals on corruption, fraud, money-laundering and other risks. 

David’s passion for automating and accelerating intelligence and investigation work led to him founding Arachnys in 2010 as the world’s leading authority on risk-relevant data. 

He is a regular speaker on the use of technology for collection, analysis and reporting in a KYC, AML and due diligence context. He graduated from Oxford University with a degree in Philosophy and Russian.