MODERN slavery and human trafficking
“Given that slavery was officially abolished in the 19th century and pretty much every country in the world has outlawed it, the trends are really alarming,” Liechtenstein’s Ambassador to the
An estimated 40 million people were living in modern slavery around the world in 2016, and women and girls are disproportionately affected
The UN Office on Drugs and Crime (UNODC) found that out of the detected trafficking victims, 49 percent are women and 23 percent are girls
“The gender dimensions of the practice cannot be ignored. Modern slavery and human trafficking
Nadia Murad, who was recently awarded the Nobel Peace Prize and is UNODC’s Goodwill Ambassador, was among thousands of Yazidi women who were kidnapped by the Islamic State (IS)
In Nigeria, Boko Haram has also kidnapped women and girls for the purposes of sexual slavery and forced marriage. A report by the Henry Jackson Society found that Boko Haram members would impregnate women in order to produce the “next generation of fighters.
“These examples show that trafficking and sexual violence, including sexual slavery, are not just incidental but systematic,
“That which we walk by, we endorse. I think that’s really critical for all of us, especially in the financial sector itself that while we may not actively participate in trafficking, if we walk by or turn a blind eye…then in a sense we are endorsing it,” said Frederick Reynolds, Commissioner of the Financial Sector Commission against Modern Slavery and Human Trafficking.
Ambassador Wenaweser also highlighted the role of the financial sector, stating: “Modern slavery is essentially the economic exploitation of people. You make people into a commodity and you make a lot of money, so the role of the financial institutions is really key.”
Slavery generates 150 billion dollars annually
Globally, modern slavery generates 150 billion dollars annually
Also known as the Liechtenstein Initiative, the Commission is a public-private partnership that brings together leaders from the financial sector, civil society, as well as survivors to find innovative ways to end modern slavery including through anti-trafficking compliance and responsible investment.
“We have chosen this because we are a financial center…and we wanted to put the expertise of our financial
While the financial sector alone cannot solve the complex issue, Reynolds noted that they are a key part of the solution and highlighted crucial actions such as the increased exchange of information between the financial sector and law enforcement
“[Survivors’] testimonies can inform and strengthen our responses to improve prevention…Women and girls cannot be reduced to currency in the political economy of armed conflict and terrorism. They cannot be bartered, traded, trafficked..because their sexual and reproductive rights are
Trafficking in persons is a serious crime and a grave violation of human rights. Every year, thousands of men, women