On 10/15/20, FinCEN released advisory FIN-2020-A008 - which is titled “Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity” - to “help save lives, and to protect the most vulnerable in our society from predators and cowards who prey on the innocent and defenseless for money and greed.” This advisory provides new information relating to human trafficking and supplements FinCEN’s 2014 Guidance on Recognizing Activity that May be Associated with Human Smuggling and Human Trafficking - Financial Red Flags. The advisory provides an overview of human trafficking, new typologies of human trafficking, behavioral and financial red flag indicators of human trafficking, case studies, and guidance to U.S. financial institutions. When reporting suspicious activity related to this advisory, FinCEN requests that financial institutions include the key term “HUMAN TRAFFICKING FIN-2020-A008” in SAR field 2 (Filing Institution Note to FinCEN) to indicate a connection between the suspicious activity being reported and the activities highlighted in the advisory.
The full 11-page advisory can be found here.
