The report Leaning In: Advancing the Role of Finance Against Modern Slavery was made by the Royal United Services Institute (RUSI) and was funded by the Freedom Fund. It aims to explore how the financial sector can contribute to identifying and disrupting modern slavery and human trafficking. The study involved a broad literature review and interviews with experts from government, civil society, and the financial sector. The report highlights that while the financial sector has shown commitment to combating modern slavery, there is potential for greater responsibility and impact, particularly through leveraging finance to raise human rights standards within clients’ value chains.
The main findings emphasise the need for the financial sector to go beyond compliance and anti-financial crime responses. Financial institutions should use their influence to encourage clients to adopt higher human rights standards, similar to practices seen in environmental risk management. The report suggests practical actions such as training staff to recognize signs of modern slavery, using transaction-monitoring capabilities to identify suspicious activities, ensuring supply chains are free from slavery, and conducting due diligence on clients with high-risk business models.
Click here or on the image below to access the report.
