Anti-Slavery Certification Launched for Financial Sector

Firms and staff in the global financial services sector can now obtain new certification in the fight to tackle slavery and trafficking.

The Liechtenstein Initiative for Finance Against Slavery and Trafficking (FAST Initiative), a project based at the United Nations University Centre for Policy Research, and the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international membership organisation of financial crime prevention professionals, have launched the new modern day slavery and human trafficking certificate for financial sector firms.

The Fighting Modern Slavery and Human Trafficking certificate is the first of its kind and provides an introduction to the steps that financial sector actors should take to meet the growing requirements to identify, report, mitigate and remedy modern slavery and human trafficking risks. It covers anti-money laundering and countering the financing of terrorism obligations; environmental, social and governance (ESG) factors, and human rights and enterprise risk management. It draws on insights from industry leaders and recent cases.

FAST said it will collaborate with key partners to support dissemination and implementation of the FAST Blueprint worldwide. Strengthening compliance with anti-money laundering and counter-terrorist financing (AML/CFT) regimes is outlined as a key action in the Blueprint and mirrors the overarching goal of ACAMS to end financial crime.

Rohit Sharma, CAMS, President & Managing Director of ACAMS, said: “ACAMS is dedicated to advancing the professional knowledge, skills and expertise of our members. This certificate, offered to all financial sector actors, will support some of our key learning and training objectives and raise awareness of the illicit financial footprint of modern slavery and human trafficking. Additionally, through our Official Pledge, we hope to further galvanise our 80,000-person strong network to take action at a crucial time to ensure that we work to protect the most vulnerable communities worldwide from such crimes.”

The Head of the FAST Secretariat, Dr James Cockayne, added: “Finance Against Slavery & Trafficking is working to strengthen financial sector understanding of modern slavery and human trafficking risks. This certificate will be an important tool to ensure that financial sector professionals have the learning and training resources they need to identify, report and mitigate such risks. In the wake of the COVID-19 pandemic and the likely rise of modern slavery and human trafficking, it has never been more important for financial crime prevention professionals and the financial sector more broadly to be actively involved in this effort.”

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