The Human Side of Financial Crime: AML’s Role in Stopping Trafficking
- FinScan
- 3 days ago
- 4 min read
Financial crime isn’t victimless. Behind every illicit transaction, there may be a real human cost. That message anchored a powerful discussion— Heroes in Action: How AML Technology Can Help Disrupt Human Trafficking and Protect the Vulnerable —hosted by FinScan and The Knoble, featuring Steve Marshall, Director of FinScan Advisory Services; Damien Cahill, former detective sergeant and payments veteran; and Mike Ripley, BSA Compliance Manager at M&T Bank.
Moderated by Ian Mitchell, Founder and Chair of The Knoble, the conversation explored how anti-money laundering (AML) professionals can use technology, collaboration, and compassion to protect the vulnerable. Here are six main takeaways from that discussion.
1. Financial crime fuels human exploitation—and prevention starts with awareness
Panelists underscored that human trafficking and exploitation are business models built on financial flows. Weak AML, KYC, and payment screening programs can enable these crimes to thrive undetected.
“Money is the root of it all,” noted Damien Cahill. “Most organized crime, whether drugs, arms, or trafficking, comes down to cash. And if the left hand isn’t talking to the right, we’ll never see the full picture.”
Every transaction monitoring decision can have life-altering consequences. Preventing exploitation means strengthening detection, improving data sharing, and treating financial crime controls as human-protection tools, not just compliance exercises.
2. Breaking down silos is critical to detecting complex trafficking networks
Steve Marshall highlighted the ongoing disconnect between customer due diligence and transaction monitoring, calling for greater real-time connectivity between prevention and detection systems.
Mike Ripley agreed, describing a “whole-institution” approach at M&T Bank that involves analytics, frontline training, and cross-functional cooperation. “Everyone needs to be involved. All hands on deck,” he said.
Both stressed the value of information-sharing frameworks like 314(a) and 314(b), and the need to use data collaboratively—both within and across institutions—to “read the tea leaves” of emerging threats.
3. Data, intelligence, and survivor input power stronger detection
Cahill shared firsthand experience from law enforcement: effective intelligence requires listening to victims and survivors. “Understanding how exploitation happens, from those who have lived it, helps map the networks behind it,” he said.
Ian Mitchell added that The Knoble has worked with survivor organizations to identify money movement patterns used in sex trafficking and sextortion, helping financial institutions recognize red flags earlier. Marshall emphasized the need for good data quality and asking the right questions: “The data can’t give you answers if you don’t ask the right ones.”
4. AI can accelerate the fight, but only with quality data and ethical use
The panel agreed that AI can be a game-changer in identifying behavioral patterns, connecting entities, and finding anomalies across large datasets—but only if it’s built on clean, contextualized data and supported by thoughtful human oversight.
“AI will be invaluable—but it needs quality inputs, collaboration, and trust,” said Cahill.
Marshall cautioned that privacy and regulatory constraints can still limit data sharing, and urged the industry to evolve its frameworks to responsibly unlock AI’s potential.
5. “Prevention is better than detection” and education builds resilience
Across both law enforcement and financial institutions, education emerged as the most scalable prevention tool.
Cahill described “target hardening” as the first line of defense: “If a burglar sees two houses, one with an alarm and one without, guess which one he hits. It’s the same with compliance. Make your organization a hard target.”
Training staff to spot red flags, fostering communication between departments, and proactively strengthening controls can prevent crimes before they happen.
6. Collaboration and compassion create real heroes
Perhaps the most powerful message was a human one: technology alone isn’t enough. Real heroes are the people within institutions who choose to use their tools, data, and influence to protect people.
Ripley urged professionals to “start incrementally” by sharing knowledge with peers and law enforcement. Mitchell reminded attendees that “it only takes one person at each financial institution to make a difference.”
From survivor reintegration to corporate social responsibility, the panel called for a shift from shareholder value to human value. “If you were a victim,” Ripley asked, “wouldn’t you want someone to fight for you?”
How do we become heroes?
Protecting the vulnerable requires a united effort among banks, regulators, NGOs, and technologists working together. As the panelists emphasized, doing what’s right may take more work, but it’s also what defines true compliance leadership.
As the session drew to a close, one attendee asked a simple but profound question: “How do we become heroes?” The answer from the panel was unanimous: by choosing to act.
Damien Cahill added, “Law enforcement is about making the good guys feel good and the bad guys feel bad. Just do the right thing.”
Their message underscored a recurring theme: that compliance isn’t just about systems, rules, or reports—it’s about people. Every AML professional has the opportunity to be a protector, a connector, and, in their own way, a hero.
Couldn’t make it live?
Watch the replay and see how AML professionals are becoming heroes in action.
