WOLFSBERG NEWS
Endorsement for Asia Pacific Banks Alliance Toolkit for tackling Human Trafficking

The Wolfsberg Group (the Group) is pleased to endorse the latest practical Anti Human Trafficking Toolkit from the Thomson Reuters Foundation Banking Alliance, this time covering the Asia Pacific region. The Toolkit has been developed by the multi-stakeholder working group, the Asia Pacific Banks Alliance (APBA) and is a demonstration of the need for collaboration, information sharing and partnership to tackle this crime.

The Thomson Reuters Foundation Alliance groups now provide three Anti-Human Trafficking Toolkits, relevant across 3 substantial geographic regions, that are designed for specific use by banks and Financial Institutions in the fight against human trafficking. We positively endorse this work and the benefits of utilising these Toolkits and all participants are to be congratulated on pursuing this initiative and setting an example for others to follow.

The Group remains concerned about the continuing growth of human trafficking across regions and the potential abuse of the financial system associated with this criminal activity. We therefore encourage the use and understanding of this (and all) Toolkits that bring together relevant and regionally proven indicators and "red flags", that can be employed across controls, policies, investigations and broad staff training.

A confidential copy of the Toolkit and further information about the Banks Alliance initiative in Europe, the United States and now, Asia Pacific, can be obtained by contacting the Thomson Reuters Foundation at banksalliance@trust.org.

Back Office Consolidation
CBDDQ
Controls for New Payment Methods
Credit Cards
DFS 504 Rule
Digital Identity
Effectiveness
FinTech/RegTech
Future of Surveillance
Models & Methodologies
Negative News Best Practice
Retail Banking
RFI Benchmarking
Role of FCC professional
Sanctions
Source of Wealth/Source of Funds
Tax Transparency
Terrorist Financing and High Risk Charities
Trade Based Money Laundering
Vendor Procurement Due Diligence / ABC Control Framework
Recent articles
Publication of Guidance on Customer Tax Evasion
Endorsement for Asia Pacific Banks Alliance Toolkit for tackling Human Trafficking
International Trade Organizations Release Additional Compliance Guidance for Trade Transactions