C6 and Liberty Asia Announce Strategic Partnership
C6 and Liberty Asia, leading anti-human trafficking organisation, have today announced a strategic partnership to raise awareness about the funding of human trafficking and how financial institutions can act upon timely information to play a part in preventing exploitation.
April 27, 2018 05:00 AM Eastern Daylight Time
LONDON & HONG KONG–(BUSINESS WIRE)–C6, an Acuris company, and Liberty Asia, have announced a new strategic partnership in order to alert financial institutions into the ways in which that they can prevent the monetary support of human trafficking through due diligence practices such as using Anti Money Laundering (AML) and Anti Bribery & Corruption (ABC) frameworks to identify the proceeds from human trafficking. C6 an Acuris Company and Liberty Asia, have announced a strategic partnership aimed at raising awareness about the funding of human trafficking.
Liberty Asia’s mandate is to disrupt the business of slavery through collating and facilitating the timely and accurate information to key decision-makers in various industries, with a focus on the financial industry for AML and ABC purposes. Human trafficking, as well as corruption, are considered AML predicate offences by the Financial Action Task Force (FATF) – the global body that sets jurisdictional level standards on AML.
Established in 2012, Liberty Asia is a Hong Kong registered NGO comprised of former corporate professionals from banking, legal and technology sectors, as well as specialists from NGOs, who feel strongly that a more effective and coordinated approach to slavery is essential. Leveraging corporate sector technology and techniques, Liberty Asia seeks to enable NGOs to help provide timely and actionable information that can help businesses and other agencies facilitate this response.
Liberty Asia has pioneered a model with its partners that has become a conduit for information flows between civil society and the corporate sector, as well as regulators, on individuals and entities that are facilitating and/or profiting from the business of slavery.
Today, Liberty Asia and C6, help businesses better identify and manage risk.
Joel Lange Managing Director for C6 commented: “C6 is delighted to form this partnership with Liberty Asia to help the anti-trafficking community restrict access to the financial system to adversely affect human slavery. By leveraging techniques and technology already in use in the corporate sector such as AML and ABC frameworks, we can raise awareness and alert institutions which can help other agencies to facilitate a response to the financing of human slavery.”
Founder and Managing Director at Liberty Asia, Duncan Jepson states: “Human trafficking is a complex, global issue which preys on the most vulnerable people within society. The anti-trafficking community must be convinced that reducing access to the financial system is the only viable way to adversely influence the financial motivation of this illicit market. Creating awareness and alerting financial institutions as to the part they can play, by preventing and ceasing their current involvement in the movement of funds and availability of banking services could introduce a powerful partner in stopping this exploitation. By working together, this strategic collaboration provides opportunities for the financial industry to identify the movement of illicit funds, manage risk and play a key part in addressing the global issue of modern day slavery.”
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