Barry Koch, formerly a managing director at JP Morgan and now chief compliance officer of Western Union, recalls that JP Morgan’s Financial Intelligence Unit first approached human trafficking through a data-driven lens. “With public domain information and law enforcement partnerships, we realized that we could design financial models that would produce correlations in the data that were red flags for trafficking.” The team partnered with the United States Department of Homeland Security to create typologies to identify financial transactions and account attributes that were worth investigating....
Certain geographic locations and types of businesses – nail salons, non-unionized stores, restaurants – were viewed as a higher risk for trafficking activity, based on publicly sourced information. Coupled with the types of transactions – credit card charges at certain hours of the night, for example – JP Morgan’s Financial Intelligence Unit began to see distinct patterns emerging. Read the rest of this article here...
https://agenda.weforum.org/2015/02/how-data-can-help-fight-human-trafficking/
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