How Financial Institutions Help
Detecting Activity
Human Crime, at its core, is financially motivated. Therefore, Financial Institutions have the best ability to detect, prevent, and report criminal activity and help save lives.
Unique Insights
Financial Institutions have a unique view of the flow of funds within their organizations, allowing more significant opportunities to expose Human Crime.
Leverage Resources
Financial Institutions have extensive capabilities and resources in AML and fraud today. Many of these tools can identify Human Crime, stop funds from flowing within FIs, and escalate the case to law enforcement.
8 Reasons Why
the C-Suite Cares
Share this resource with your C-Suite leaders:
1
2
3
4
5
6
7
8
1
Reason #1
Financial Losses
$1.7 billion in suspicious activities reported by financial institutions in 2017, including actual losses and attempts to steal from those over 60, emphasizing the need for effective monitoring and reporting systems (Consumer Financial Protection Bureau, 2019).2
Reason #2
Potential Fines
$10.4 billion is the global total of anti-money laundering (AML) fines between 2012 and 2021, stressing the importance of strict AML compliance to avoid fines and penalties related to child exploitation (Fonergo, 2021).3
Reason #3
New Customers
78% of millennials prioritize social issues (ESG) when selecting a financial institution, emphasizing the need for banks to adopt socially responsible practices (Cone Communications, 2017).4
Reason #4
Emerging Regulatory Requirements
There is emerging interest by Regulators to include Human Crimes in Risk Assessments. Awareness and effective planning prevent Financial Institutions from being subjected to unexpected costs and possible fines.5
Reason #5
Reputational Risk
3.5 Years: Time for a financial institution’s stock price to recover after a reputational crisis, illustrating the long-term impact on shareholder value (Deloitte Reputational Risk Report, 2019).6
Reason #6
New Investors
87% of investors considering non-financial performance when making investment decisions suggest that banks’ ESG initiatives can attract investors (EY Global Survey, 2018).7
Reason #7
Social Responsibility
Addressing human trafficking can earn Community Reinvestment Act effective credit. 66% are people of color. 79% of trafficking victims are women and girls. 61% of survivors of human trafficking were used to make deposits and transfers for the trafficker.8
Reason #8
Associate Engagement
Associate engagement will increase as the financial institution advances the fight against trafficking and child sexual exploitation enhancing institutional pride.Share this resource with your C-Suite leaders:
Is Your Team Prepared To Fight Human Crime?
Download and take a brief assessment of the tools needed for the fight.
C-Suite Executives
Leading The Fight
As a financial institution C-suite executive, you have the power to make a real difference in the fight against human trafficking and child exploitation while also benefiting your institution in numerous ways.
Previous
Next
<span data-buffer="">Take leadership in the fight against Human Crime by signing up for The Knoble Network.
Free to join. Get your access today:
3 Ways To Take Action
Take Action to Protect The Vulnerable
Take Leadership In The Fight
Join and encourage your associates to join The Knoble Network.
Review Your Preparedness To Fight Human Crime
Download and take a brief assessment of the tools needed for the fight.
Join The Industry Movement
Stand alongside Financial Institutions making a commitment to fight Human Crime. Download and sign The Knoble Accord.
“With the help of the Financial Industry, detecting more of these crimes means stopping more of these crimes.”
Additional Resources
Contact Us Today
If you would like to discuss ways to continue your Financial Institutions involvement in the fight, reach out today.
