There are an estimated 40 million people in conditions of modern slavery globally. Despite a blanket ban on such practices, modern slavery remains a big business, generating an estimated USD 150 billion in illicit funds each year. Financial institutions may be connected to modern slavery and human trafficking through their own operations, or through their business relationships. Because the financial sector is so intertwined with the rest of the economy, financial sector action can help change the way the whole global economy works. The financial sector has a unique opportunity, at this critical juncture, to lead the transformation of our global economy to address modern slavery and human trafficking.
FAST pursues an innovative, ambitious strategy to accelerate action to address modern slavery and human trafficking. Grounding its work in evidence-based approaches and rigorous analysis, it provides tools and training to financial sector stakeholders to take meaningful, sustained action against modern slavery and human trafficking. FAST runs global initiatives and campaigns to raise awareness and build momentum on these issues while incubating projects, strategies and coalitions for long-term impact. Through its alliance-building approach, FAST works in partnership with entities around the world, including international banks and regional banking associations, investor groups and stock exchanges, professional associations, survivor support organizations, regulators and policymakers to address modern slavery and human trafficking.
At the heart of this work is FAST’s signature report, the Blueprint for Mobilizing Finance Against Slavery and Trafficking. The Blueprint, the culmination of a year-long global consultation by an expert Commission (the Liechtenstein Initiative for a Financial Sector Commission on Modern Slavery and Human Trafficking), provides a shared collective-action framework that different financial sector actors can implement in their own ways and at their own speeds. It includes 5 Goals and 30 Actions that together provide a roadmap for the whole financial sector and its stakeholders, including governments, regulators and the multilateral system, to demonstrate their commitment to accelerating action to end modern slavery and human trafficking.
LEARN MORE ABOUT THE FAST BLUEPRINT