Switzerland launched its first anti-human trafficking guide for financial institutions on November 25th, 2024. Developed by the Office of the OSCE Special Representative and Co-ordinator for Combating Trafficking of Human Beings and the Money Laundering Reporting Office of Switzerland (MROS), this guide aims to leverage Swiss Money’s influence to disrupt human trafficking through financial flows.
The guide is a product of the “Financial Intelligence against Human Trafficking” (FIAHT) project, initiated in January 2024. This project facilitated collaboration between Swiss law enforcement, NGOs, and public and private sector stakeholders to identify human trafficking risks and patterns within financial transactions. The resulting guide provides the financial services industry with specific tools and information to identify and prevent these illicit activities.
OSCE Special Representative Kari Johnstone emphasized the importance of a united front against human trafficking, stating that financial intelligence units, institutions, regulators, law enforcement, NGOs, survivors, and international bodies must work together. The FIAHT project fosters this collaboration, equipping financial institutions with the knowledge to recognize and respond to trafficking-related financial activities.
Head of FIU MROS, Toni Brönnimann, highlighted the guide’s practical application. The guide provides clear indicators, enabling financial intermediaries to detect human trafficking and submit accurate suspicious activity reports, contributing significantly to combating this crime. This proactive approach utilizes the intricate network of Swiss money to identify and disrupt criminal activity.
The launch of this guide demonstrates Switzerland’s dedication to innovative anti-trafficking measures. By mobilizing the private sector through projects like FIAHT, Switzerland aims to strengthen its efforts to prevent and combat human trafficking, further solidifying the role of Swiss money in upholding ethical financial practices. This initiative reinforces Switzerland’s commitment to combating human trafficking on a global scale. The guide’s focus on financial intelligence promises a more effective approach to disrupting this criminal enterprise.
