Sex trafficking victims follow a certain trend to their financial statements in the developing world which, with the help of Artificial Intelligence system, could be identified and tracked for transactional patterns
Many of the pimps and sex traffickers use technology to finance their day to day operation. Mostly spending on multiple hotels and taxis for sex workers during midnights, receive payments in the small amount after midnight. All these transactions whether by the means of physical POS or online transaction falls into the certain category. Which could explain who all are involved in the ecosystem and partners?
Some of Canada’s big financial institution joined hands in identifying the traffickers as input from one of the victim.
There are many points which were made aware by the victim only, however, lots of analytic trends and data point have the capability to identify trafficking cases proactively.
- 885 reported cases in last 4 years
- 60% of the victims are less than 18 years old
- Bank Statement of trafficked girl help in identifying the trends and patterns, such as the late-night deposit into multiple ATM machines
- The victim is making the money but not spending on herself
- In 2017 this approach uncovered a trafficking ring catching 2 pimps and saving 9 Peruvian girls
Legal Tech Market:
Many technology companies are disrupting the world of crimes with the help of search, analytics, machine learning and Artificial Intelligence specifically in e discovery segments
Credit: CB insights
Last Minute Thoughts:
With so much happening in the technology world and especially in the Fintech sector. If little emphasize could be given to helping towards social crimes then the future world would be more happy and successful. The government has to take initiatives an awards for those organizations who take the proactive approach and help to identify the social crimes.
Credit: Motivation from The Economist, EY
Banking on a new way to disrupt crime – tracking the traffickers