Department of the Treasury officials said the agency would contribute to the updated National Action Plan (NAP) to Combat Human Trafficking and play a role in countering the abuse.
The NAP offers a holistic approach with regard to addressing a range of topics that include prevention, protection, and prosecution while establishing partnerships supporting associated initiatives.
The NAP draws upon survivor experiences and expert contributions to prevent human trafficking and utilizes resources to respond to survivor needs.
According to the Treasury Department, the agency leverages financial expertise and broad authorities to target trafficking networks via an array of economic tools implemented through the Office of Terrorism and Financial Intelligence.
The Treasury Department also noted that it has identified human trafficking proceeds as a significant threat to the domestic financial system and prioritized disrupting and dismantling trafficking networks.
Agency personnel have cited a series of initiatives targeting improved human trafficking survivors’ access to the financial system for those victims without foundational identity documents to access the financial system through responsible digital identity verification.
The Treasury Department also works with the Financial Action Task Force (FATF) and partner countries to strengthen global financial standards. It is expanding efforts to multi-lateralize sanctions, maximizing agency financial tools’ impact.