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Fintech & Ecommerce

PayPal teams up with NGO to combat human trafficking

Jan 17, 2020

These organizations collaborate due to the need for finding new ways for the anti-money laundering community?

human trafficking

PayPal teams up with NGO to combat human trafficking. Source:?shutterstock.com

Polaris, a nonprofit organization in combating human trafficking, announced the formation of a Financial Intelligence Unit. With PayPal’s support, the Financial Intelligence Unit is will detect and block trafficker cash flows, leveraging the US National Human Trafficking Hotline data and other sources. Besides, it will enable prosecutions for financial crimes including money laundering.

Financial institutions have long been powerful partners in the fight against human trafficking. Thanks to our partnership with PayPal, anti-money laundering professionals will have more opportunity than ever to share information, identify new techniques to effectively zero-in on those who profit off of the exploitation of others and provide actionable information to law enforcement. In doing so, we help bring accountability to those who financially benefit from trafficking and restore freedom to countless thousands of people around the world
Sara Crowe, director of Polaris’s Strategic Initiative on Financial Systems

Polaris revealed that companies like PayPal, having global technology and financial services expertise, were best positioned in solving the problem of human trafficking by making it more difficult for traffickers to move money.

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