Yahoo Sports · Jun 9, 2015
European banks join drive to combat human trafficking using data
LONDON (Thomson Reuters Foundation) - Leading financial institutions in Europe have joined an offensive to fight human trafficking by using data to spot irregular banking transactions that could identify criminal activity, organizers said on Tuesday.
The initiative involving banks and the European Union's policing agency Europol aims to help financial institutions develop 'red flag' indicators to scan their systems for suspicious transactions and then alert the police.
The move comes amid rising concerns about human slavery growing into a multi-billion pound business in Europe, run by increasingly sophisticated gangs exploiting the EU policy of free movement for its people.