Enhanced screening platform to combat human trafficking

KUALA LUMPUR: Regulatory DataCorp Inc. (RDC), the global leader in compliance screening has enhanced its screening platform to help eliminate human trafficking.

For more than two decades, RDC has delivered marketleading risk intelligence and advanced screening technology to help financial institutions prevent criminal infiltration of the world’s financial systems.

The enhanced internal screening algorithms allows better identify suspected traffickers and bring them to the attention of compliance professionals, said RDC in a statement.

It will allow RDC’s customers to more rapidly prevent account openings, refuse transactions and enhance their monitoring systems and regulatory reporting.

RDC is also partnering with the Hong Kong-based Mekong Club as the Club has deep understanding of the human trafficking market, extensive private and public sector relationships and passion for collaboration and market education.

This will enable RDC to add nine million strong database of wrongdoers, more effectively collaborate with other organizations with a similar mission and substantially improve the awareness and prioritization of customers’ compliance.

According to the International Labour Organization and International Organization for Migration, there are more than 40 million victims of modern slavery globally -- 75 percent of women and children.

Human trafficking represents a US$150 billion (RM604.99 billion) industry worldwide with almost two-thirds of those proceeds coming from sexual exploitation.