Human trafficking is the instance of bartering human beings for sexual slavery, forced labor, or sexual exploitation to gain money. It is the transfer of persons through threat, force, or even abduction. The whole purpose of human trafficking is to take advantage of other human beings for profit, whether material or financial.

Examples of human trafficking include forced marriage, labor exploitation, domestic servitude, and organ harvesting, which involves the removal of organs or body tissues for surrogacy. The most common one is sexual exploitation. Sexual exploitation is the practice of abusing someone’s position of weakness to get sexual favors by offering money.

There are different forms of sexual exploitation, including rape, prostitution, sexual photography, or even viewing of sexual acts.

Reasons Why Human Trafficking Is an Issue Of Compliance.

Supply chains being the focus, they lead us into direct contact with international travel; hence, the precise nature of these chains has made human trafficking a major target activity. Big companies may get exploited by criminals without knowing it and are prone to severe consequences.

Companies also should acknowledge that if they do not take preventive measures against human trafficking, they may as well be legal, financial, and reputational risks.

Companies should also improve their skills in monitoring transactions. Transaction monitoring is very important and can be used to identify questionable transactions and lessen the financial risk of a crime. Monitoring is important, as the rising fines and regulatory attention reinforce it.

Some bad practices that show suspicious transactions are when the organization fails to take adequate measures to understand the risk of doing business. For example, there is no clear monitoring when the money laundering officer can provide proof of unusual transactions or when the employees accept customers’ explanations that do not add up.

The staff should therefore have broad knowledge and the brevity to be able to challenge transactions.

The Dangers and Threats That Firms Could Face. 

• Harm, the reputation of unethical business practices, may expose your brand to damage, and restoration is difficult.
• You may lose access to markets in all parts of the world as you are also restricted on places to go; hence, there can be no growth in your firm as you have limited access, thus causing a downfall to your business or firm.
• It takes away your focus from success to things that will interrupt the smooth running of your business. When a firm ceases to operate correctly, most companies detach themselves as the trust is broken.

As firms tend to escape this threat, it is important to note that human trafficking is a sabotaging act, and several people are struggling daily. It is key to prevent this act for the people. People would live better without human trafficking, reducing the difficulties and dangers they may face. Therefore, we should all stand to create awareness of this malicious act to put an end to it.

The Compliance Association.

The International Compliance Association(ICA) is the world’s leading provider of expert and certified qualifications in preventing money laundering, governance, compliance risk, and financial crimes. It is known everywhere for its commitment to providing the best compliance practices and a well-enhanced reputation. This compliance can help prevent human trafficking, as even becoming a member has proven difficult.

One must follow and be fully committed to professional and ethical conduct. Individuals are also requested to present complete verification at the testing and certification point before sitting for the exam to earn them a certificate. They are also supposed to pay registration fees to finish the membership steps.

Being a member comes with certain advantages, such as enhancing a person’s professional credibility and proving one’s commitment to high standards of what you do and how you conduct yourself. It also improves the state of the organization a person is working for and enhances the chances of employment.

Human trafficking is a great violation of human rights and causes massive effects such as poverty, unemployment, and people who don’t get a chance to be educated. Human trafficking deprives the individual’s freedom; therefore, promoting breakdown with their own families and compliance can be used to keep them from it.

How Does Compliance Work?

The compliance association monitors and tries to access systems to ensure they follow up with the highest security standards. It, therefore, ensures that the clients are treated with the highest conduct and respect. Compliance with the laws and regulations is completely the obligation of the compliance board. Common compliance risks include corruption, social responsibility, data management, and workplace health and safety.

Identifying trafficking has never been easy, but these significant signs are used to look out for the vulnerable people in your community. This includes physical or psychological abuse like bruises or broken or fractured bones. 

Furthermore, a person who suddenly goes out of reach or loses contact with their family or the people they love may mean that they are under some attack from someone; it may be threats or fear of loss.

A person without legal documents includes contracts, residential leases, last wills and testaments, guardian documents, and living wills. These documents are important to us all, and their absence strikes a person that there is a possibility of being in traffic.

Ways In Which Compliance Helps to Reduce Trafficking.

Companies help reduce trafficking in different ways, but majorly by formulating laws and regulations that each company should follow. Such includes recording and reporting efforts to identify and do away with slavery.

It is accomplished by carrying out high-level due diligence on all groups that they engage with, that is, agents, contractors, and suppliers, and by obtaining certificates that display their compliance with standards concerning the trafficking. Ensure the employees are well-trained concerning human trafficking. The companies should:

• Facilitate some policies that would prevent human trafficking, and they will face penalties if anyone goes against it.
• To keep monitoring all spots in case of trafficking.
• To put into practice and maintain a helpline that allows them to report any cases of trafficking to protect and assist the victims. So far, most reports have pointed out that sexual exploitation of women and girls is the most prevalent problem in the world. These reports have helped in creating awareness.

Human trafficking is a serious problem, but we should all stand assertively by creating awareness of its effects, reporting any signs, and urging people to use compliance to fight this illicit behavior.