July 6, 2024
Cyber and Organized Crimes

How can banks be used to stop human trafficking?



Human trafficking is devastating for the victims but low-risk for the criminals, whose activities are largely hidden from view. To disrupt it, law enforcement is turning to some unlikely new partners—banks.

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German police raid homes across the country as part of a move to take down an international human trafficking network. It’s the fastest growing crime in the world but sights like this are rare. This is 21st century crime – hard to track, low risk and high reward for the criminal gangs behind it.

Today’s biggest criminals could be trafficking humans, drugs or weapons. The authorities charged with stopping them have found some unlikely new partners – banks.

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48 Comments

  • @TheEconomist June 23, 2024

    Made with the support of Tom Keatinge and RUSI.
    Read the RUSI report on Disrupting Human Trafficking: The Role of the Financial Institution
    https://rusi.org/publication/whitehall-reports/disrupting-human-trafficking-role-financial-institutions

  • Traffickers are like drugs cartels😢very strategic..

  • @tabbit8115 June 23, 2024
  • @derekroh4785 June 23, 2024

    Thank you for putting this video together, and up.

  • @DavidFriedberg123 June 23, 2024

    Very interesting

  • @GhostEmblem June 23, 2024

    My boss doesnt know this yet but sign me up. Legend!

  • @vimalalwaysrocks June 23, 2024

    Am cringing just to think that such inhuman animals are existing in this world. Catch them up and execute them in public so no one else repeats their crime.

  • @allandombroski655 June 23, 2024

    Fantastic journalism, but : does anyone know the name of the background music?

  • @engagedfig7144 June 23, 2024

    Bit ironic – 'exploiting their victims for financial gains'… hmm sounds exactly like the raison d'être of banks and corporations.

  • @EmirAbdKadder June 23, 2024

    Provinces not states….

  • @sumonsskhan June 23, 2024

    What about the cash if paid to victims? In less developed countries, census showed that most of the time with cash money. So, as a bank how can be detected when the transactions in cash? With Regional Coordination among the Central Bank can ease the Money Laundering. Also, putting barrier to send money in form of business to launder money from one country to other. Say for example, to send money from one country to other, customers will give information to Central Bank and Central Bank will give the permission by checking counter Central Bank.

  • @KC-bz7eb June 23, 2024

    Other bankers who did not get involved probably is the problem client who purchase this children 🤔

  • @KC-bz7eb June 23, 2024

    Catch this people, find them guilty and put them to death 💀

  • @amazon2.022 June 23, 2024

    Also the question is who are the clients?? If this industry earns that much money, it's because there's a high demand, as simple as that! So who are the people who pay for it ?? Scary..

  • @colorfulcodes June 23, 2024

    More docs like this.

  • @yannickille4049 June 23, 2024

    Banks threatening normal people and Helping. No way

  • @Buymycourse2day June 23, 2024

    I can now see why cryptocurrency will be huge, cut out the middle man: the banks that want to make money like JP Morgan would gladly accept corrupt money

  • @Sora_Nai June 23, 2024

    Hahah bitcoin 🤣 said nope 🙅🏻 😆 anonymous trade

  • @kaushikvsmaniyan June 23, 2024

    24:2025:27 decentralised operation is the key so each cog can deny knowledge of much of the operation even if it the denial isn't credible. Perhaps we have to place a bit of the burden of proof on the other side and expect the owners, operators and managers to show they really didn't know what they claim not to know

  • @kaushikvsmaniyan June 23, 2024

    10:1811:14 – can we be confident that those buying this are not connected to the criminal enterprise?

  • @shutupandance June 23, 2024

    The film doesn’t make a single mention to ‘bank–client confidentiality’, which by itself prevents any attempt to seriously address this (and many other) issues. Sad.

  • @mtwata June 23, 2024

    8:00 Canadians, casually giving interviews in the snow

  • @David-ut4md June 23, 2024

    What’s the name of the background music?

  • @wearelost9448 June 23, 2024

    It’s happens to animals too. the humans matter more. but the animals too. Money makes bad stuff happen. Money isn’t a deal.Money. Is a nightmare

  • @AdrianQuirarte1905 June 23, 2024

    Oportun Inc., is CDFI Certified. MetaBank and Member FDIC issue Oportuns Ventiva prepaid Visa Card. Oportun Inc. fails to acknowledge that the trade of counterfeit goods of all levels is a threat to National Security.

    La Placita Tropicana Shopping Center has been deemed to be a blight on San Jose, a breeding ground for illegal trades moreover the sale of fake immigrant documentation. It has been labeled as "Anti-American" as counterfeit social security numbers and IDs have been allowed to be marketed and sold for years. It has been an "open secret," the trade of fake and counterfeited identities marketed daily outside La Placita Tropicana Shopping Center.

    Oportun Inc. is a Transnational Corporation with Corporate Offices located in Leon Guanajuato & Jalostotitlán, Jalisco, Mexico & Operates in 12 U.S States.

    Google Search: ripoffreport.com Oportun La Placita Tropicana

  • @Ironskies June 23, 2024

    Great video highlighting (my opinion) the worst crimes humans can participate in. Friendly note to the economist, when speaking about Canada's jurisdictions, we are not states rather we are provinces.

  • @pattiebrassard8412 June 23, 2024

    You expect the big bankers.. who are the ones running the entire human traffic system.. to inform on themselves..? WOW.. are you a bunch of clueless idiots.

  • @intern0077 June 23, 2024

    Can you collect information on the CIA's drug transactions? Well-informed speculation says the CIA maintains the poppy fields of Afganistan, and are the largest importer of illicit drugs to the USA. They deposit proceeds as Classified transactions. Therefore they can not be audited. Banks are 1 intimidated and 2 greedy so they cooperate fully to facilitate deposits from the CIA. Proceeds then go partially to fund "Black" projects around the world. Any comment on this? By the way, CIA and Black Project employees who participate in illicit operations are well-compensated monetarily. However, by their participation in illicit programs, those employees could be considered Slaves of the CIA.

  • @clementbaissat1580 June 23, 2024

    HSBC should be ban

  • @leky1325 June 23, 2024

    The Economist will never report who the real masterminds are. These are just small fries.

  • @powerpcsqb June 23, 2024

    For the government, this task is very simple, but the government does not try to do it, shame

  • @cocofa77 June 23, 2024

    "Ronald Bernard" former Dutch banker.

  • @ElizaHuecon June 23, 2024

    Great reporting! And Alex at 10:09, hahaha! 😀

  • @AnhNguyen-pt6se June 23, 2024

    These people need to beo killed

  • @Misuci June 23, 2024

    human trafficking is the main business of banks, the legal or almost legal kind. So, the question is how can banks stop illegal, profitable human trafficking of other agents ?

  • @jaygroveshaeiq1672 June 23, 2024

    The elephant you missed in suggesting relying on banks is that the society can already feel very entrapping in limited contacts and opportunities – that moralists and governments might better address long-term.

  • @Lukas-qf2uh June 23, 2024

    What are the privacy rules on this? Does the bank have any legal obligation/hurdle to clear before sharing it? Or can they share any data they want to with law enforcement that they deem suspicious?

    Essentially, what I'm asking is, does the bank own the data of your history of banking with them, so therefore they don't need to notify/ask permission from a trafficker? How do the laws on this vary by country?

  • @asparrow9876 June 23, 2024

    Pffft. Do I look like a fucking IDIOT TO YOU??…. Fuck the economist. Fuck Canada. Fuck the Canadian government. Fuck these dumb bitches. Fuck the traffickers. And fuck your idiotic fear-mongering when these girls not only enjoy their entourage but fucking seek it on their own even legally. You're not making me feel sorry for anybody. Also FUCK your bankers.

  • @trinh9884 June 23, 2024

    thanks a lot!

  • @jimmyrogers3527 June 23, 2024

    Not a single HSBC banker, ceo, employee did time for helping cartel and middle eastern sanctioned countries move money.

  • Thanks The Economist and your staff for doing and posting this article . It is an excellent article . Thanks Quanta Verse for using AI and Computer programs to make the world a safe , better and more free from criminals .

  • @sayansahay5424 June 23, 2024

    Amazing work Economist!
    Now that's some quality journalism

  • @kowalityjesus June 23, 2024

    What about the trafficking surrounding DC. The rates of child abduction are extremely high in Virginia, and there is evidence that criminal sexual activity of the highest rungs of power is being systematically covered up. But, oh, that's a conspiracy theory.

    Check out the cryptic but explicit language in the Podesta emails released by Wikileaks, known as "pizzagate." This led to the murder of Seth Rich (the leaker) and the abduction/arrest of Julian Assange on Oct 16 2016.

  • @amasat71 June 23, 2024

    In the UK, Europe and America banks have come under ever greater pressure from regulators
    to root out the dirty money in their systems,,,,,,,, seriously 🤔

  • @Sheeshening June 23, 2024

    13:28 so hsbc paid $1.9 billion for laundering $881m. Even if they got a 10% marge that would be a hefty fine. Yet the next comment is how this is only "5 weeks worth of the banks global profits", which is completely misleading since most of the bank had nothing to do with this and it's a huge corporation. Actually compared to most punishments for regular people, that is extraordinarily hard fining.

  • @RazeenRed June 23, 2024

    like the second series of the wire

  • @drbthn45ertgsr58 June 23, 2024

    Keep in mind; this isn't a matter of evil people doing evil thing, this is a matter of systemic corruption. And you know your governments; They are funding the war criminals, they are funding the terrorists, they are paying the arms dealers and they are doing it using the banking system that they are supposedly doing oversight on.

    There will always be criminal activity, that is part of society. Changing how money works and making every citizens transactions publicly visible only ends up punishing the innocent.

    If the government can watch everything you do, their power to control your behavior becomes enormous. And it will put people at the mercy of a system, in which at a flick of a binary switch you can become a non-person.

    Went to the wrong website, went to the wrong protest, associated with the wrong political party, expressed support for the wrong idea. You no longer exist. That is scenario A.

    Scenario B is a world in which we have a fully connected economy, using a form of currency that is neutral, transparent, global and open, belonging to everyone, requiring no qualification to enter or exit the system and not under control of any bank or government; That is what Bitcoin offers.

  • @jansteyn4260 June 23, 2024

    Good to see banks can actually do something good

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