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HomeFintechFintech Firms Be part of Forces to Sort out Human Trafficking

Fintech Firms Be part of Forces to Sort out Human Trafficking


Freedom ID is launched by a consortium of world fintech, regtech, cybersecurity and Id suppliers. They’ve joined forces to deliver expertise to the struggle in opposition to human trafficking and supply help to people in search of protected passage and refuge.

Freedom ID was initially developed to assist defend Ukrainian refugees and now has the purpose of changing into the worldwide commonplace in safeguarding weak individuals displaced because of any disaster. Zenoo’s digital onboarding platform which powers Freedom ID is utilized by a number of the world’s largest firms together with NASA, Experian, and the London Inventory Alternate to streamline identification verification, mitigate danger, and speed up buyer acquisition.

This similar expertise has been harnessed to help potential victims of human trafficking and different felony acts and assist struggle in opposition to these crimes. The platform is built-in into each authorities databases and industrial applied sciences which are used for onboarding prospects in banking, journey, e-commerce, and different industries.

Founding members

Along with Zenoo, the founding members of the Freedom ID consortium embody Seattle-based Vouched, a worldwide chief in identification verification, KYC, and AML; VU Safety, a cyber safety firm headquartered in Buenos Aires, Argentina; GBG, a worldwide identification verification and fraud prevention firm primarily based in London; Shufti-Professional, a digital KYC and AML service supplier additionally primarily based in London; German-based Desko, a supplier in ID doc applied sciences, and different leaders in identification verification and administration.

Further professional bono providers are offered by the worldwide regulation agency Debevoise & Plimpton and the worldwide communications company Montieth & Firm. AND Digital offered professional bono IT improvement providers for the preliminary construct and The Seneca Belief offered Freedom ID with a donation for the preliminary start-up prices.

Whereas Zenoo focuses on capturing person data, the opposite fintech companions present identification verification options, enabling Freedom ID to conduct the mandatory checks to stop felony exercise.

Built-in Platform

The platform can simply combine different applied sciences and knowledge sources and supplies a strong easy-to-use resolution for governments, NGO’s and different organisations of their struggle in opposition to human trafficking and is free to be used by social networks, lodging hosts, and volunteers serving to to guard Ukrainians from these threats.

Lots of the web sites that lodging companies arrange in response to the struggle in Ukraine are grassroots initiatives and it’s difficult for these unregulated entities and their web sites to establish exploitative hosts with out ID verification.

Solely the start

Stuart Watkins, Zenoo CEO, stated: “Instances of mass migration as refugees flee struggle are prime territory for extremely subtle felony organisations to make the most of weak ladies and youngsters. By verifying the identities of lodging hosts we’re decreasing the chance of trafficking. On prime of this, we all know that tens of millions of displaced refugees will transfer from one lodging supplier to a different over the approaching years, and this strategy of ID verification should proceed consistent with this.”

Watkins added: “That is solely the start of the journey. It’s a joint effort and we’re genuinely humbled to be working with a number of the world’s main expertise suppliers to supply an answer to make the motion of individuals safer for volunteers and displaced refugees.”

Freedom ID companions with the identical expertise monetary establishments use to attain compliance with anti-money laundering necessities and border management companies to confirm people.

Assist for refugees

Jo Ann Barefoot, Founder and CEO of the Alliance for Revolutionary Regulation, stated: “The Ukrainian disaster reminds us that the work Zenoo does is a part of a large effort rising everywhere in the world to work towards higher types of identification authentication. We’ve identified for years that digital verification can assist with refugee conditions, together with ones the place there’s excessive concern that refugee populations might embody important numbers of would-be terrorists and criminals.”

Ian Bearder, a software program developer and co-founder of Ukraine Shelter, an internet site serving to Ukrainians displaced by the invasion stated: “We launched Ukraine Shelter within the early days of the struggle to assist family and friends discover shelter in West Ukraine and Europe.

“We have been overwhelmed with the response and help we acquired, however as we grew, we shortly understood the necessity to confirm hosts and supply further security and safety measures. Freedom ID integrates seamlessly with our sign-up course of, so we didn’t have to reinvent the wheel and our hosts are in a position to confirm their ID and deal with particulars shortly and painlessly.”

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