The financial sector and tech companies are joining forces to crack down on human trafficking.
It is estimated that there are 25 million adults and children worldwide who are forced into human trafficking, and it remains one of the most profitable kinds of crimes.
Many criminals try to hide their identities an their money online, and fintech companies, like ThetaRay, based in Israel, use advanced technology to track down cybercrime.
Gal Bar, ThetaRay Transaction Monitoring Product Manager, explained, “Our solution can identify suspicious transaction patterns indicative of human trafficking. “However, the true power lies in our ability to contextualize and enrich these models with customer-specific data and risk typologies.”
ThetaRay and Santander earned a “Best Use of Data” Digital Transformation Award in 2024 for Human Trafficking and Modern Slavery Detection.
