Money laundering is used to fuel underground economies, often resulting in more crime and the undermining of democracy. In this podcast, we explore how banks uncover money laundering — and why it matters.

Forensic Finance

How banks detect money laundering

Many people who are exploited in work situations don't realize they are victims. When nobody tells you about things like minimum wage and legal working hours, how can you be helped? One solution is to detect such cases proactively, by following the digital fingerprints hidden in banking data. In this first episode of Forensic Finance, we look into this innovative new technology to tackle the $150 billion human trafficking industry.

How bank data analysis helps fight modern slavery

The number of human trafficking victims globally is as many as the inhabitants of Denmark, Sweden, Norway, Finland, Croatia, and Hungary combined. While human trafficking is often associated with (illegal) prostitution, about 25 million of these 40 million victims end up in labor exploitation situations — working in nail salons, nursery gardens, and restaurant kitchens, to name a few examples. One unique characteristic sets this group apart from other victimized populations: Many people exploited in work situations, don't realize they are victims. When nobody tells you about things like minimum wage and legal working hours, who are you to complain about your situation? One solution is to detect such cases proactively, so law enforcement doesn't have to wait for a formal victim statement. The University of Amsterdam, the Netherlands‘ Ministry of Social Affairs and Employment, and Dutch bank ABN AMRO have created a one-of-a-kind partnership to analyze bank data for suspicious activity that could pinpoint human trafficking. Subscribe on your favorite podcast app to receive future episodes of Forensic Finance.

Trailer: How bank data analysis helps fight modern slavery

Forensic Finance is a podcast exploring if and how banks can help solve urgent global issues. Forensic Finance is made by TNW and ABN AMRO and is hosted by Callum Booth.

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Forensic Finance

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