Carol Beaumier, Protiviti Senior Managing Director
Last year, FinCEN issued another advisory (FIN-2020-A008), Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity. This follows an advisory issued by FinCEN in 2014 (FIN-2014-A008), Guidance on Recognizing Activity that May be Associated with Human Smuggling and Human Trafficking — Financial Red Flags. The purpose of FIN-2020-A008 is ‘‘to help save lives, and protect the most vulnerable in our society from predators and cowards who prey on the innocent and defenseless for money and greed.’’
Here, Protiviti’s Carol Beaumier addresses human trafficking in a pandemic-ravaged world and outlines four red flags finance firms can use to detect human trafficking.