Liberty Asia and Newly Formed Liberty Global, and the Transaction Record Analysis Center (TRAC) announce strategic partnership
Liberty Global and TRAC announced today a joint partnership to facilitate their efforts to support AML investigations related to human trafficking.
23 May 2018 - Hong Kong and Phoenix: Liberty Global, and its sister programme Liberty Asia, run by the Hong Kong registered charity SHARE (Asia Pacific) Limited, and the Transaction Record Analysis Center, a Phoenix-based Non-Profit, have announced a strategic partnership, as part of their efforts to support AML investigations by law enforcement and the financial community.
Human trafficking generates an estimated $150 billion per year. Most of the proceeds of this crime flow through the global financial system. The Financial Action Task Force (FATF), the global standard-setting body on combatting money laundering, considers human trafficking an AML predicate offense.
TRAC is an industry leader in training law enforcement and the financial community on how to conduct AML investigations. Created in 2014 through the support of the Arizona Financial Crimes Task Force (AZFCTF), TRAC is a centralized, searchable database of financial transactions of global money services businesses (MSBs). TRAC supports money laundering investigations of organized crime by providing data, data analysis, collaboration and training to investigators, analysts and prosecutors in the U.S. who are working to disrupt and dismantle criminal operations.
The aim of Liberty Global is to prevent human trafficking through legal advocacy, technological interventions, and strategic collaborations with NGOs, corporations, and financial institutions. Comprised of former corporate professionals from banking, legal, technology and NGO sectors, Liberty Global believes in the need for a more effective and coordinated approach to tackling slavery.
The partnership between TRAC and Liberty Global’s Information and Data Collaboration Programme, directed by Leighton Joyce, works to address the information needs of the international financial community by collating and facilitating accurate, timely and actionable information to key actors in the financial sector.
Using a pioneer model that relies on partnerships and collaboration, Liberty Global has become a conduit for information flows on individuals and entities that are facilitating and/or profiting from the business of slavery.
Today, Liberty Global and TRAC take these efforts one step further through their new partnership. This collaboration will facilitate the sharing of information about human traffickers with AML investigators, arming them with data that can make a difference in the fight against modern day slavery.