- Date 29 Nov 2022
Featurespace’s integration of RedCompass Labs’ RedFlag Accelerator into its fraud and AML (FRAML) detection platform ARIC Risk Hub, will improve automatic detection of human trafficking in financial data.
The partnership will bring significant disruption to sex and labor trafficking crimes – a much larger and more covert crime than many realize. Finance Against Slavery & Trafficking (FAST) Initiative estimates that forced labor alone generates an estimated USD 150 billion dollars in illicit funds per year from the 50 million people trapped in modern slavery. This will be achieved through the advanced automation of human trafficking detection in the financial data of Featurespace’s global customer base with the integration of RedCompass Labs’ RedFlag Accelerator technology. With research models provided by RedFlag Accelerator’s integration, financial institutions will be able to take advantage of a library of typologies that will close the gap between good intentions and proactive action on human trafficking.
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