Regulatory Alerts2020-10-15
Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity
The Financial Crimes Enforcement Network issued this advisory to update financial institutions on evolving human trafficking typologies and red flags, supplementing its 2014 guidance. The document details four new money laundering methods, including front companies, exploitative employment practices, funnel accounts, and alternative payment methods, while providing specific behavioral and financial indicators for detection. FinCEN requests that institutions reference this advisory in Suspicious Activity Reports to aid in the identification and reporting of trafficking-related financial activity.
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