PayPal Supporting Polaris to Fight Human Trafficking
January 16 2020 - 03:29PM
Dow Jones News
By Stephen Nakrosis
Polaris, an organization working to fight human trafficking, on
Thursday said it was creating a Financial Intelligence Unit with
financial and other support from PayPal Holdings Inc. (PYPL).
Polaris said the new unit "is designed to leverage intelligence
from the U.S. National Human Trafficking Hotline and other sources
to interrupt trafficker cash flows and enable prosecutions for
financial crimes including money laundering."
Sara Crowe, director of Polaris's Strategic Initiative on
Financial Systems, said "Thanks to our partnership with PayPal,
anti-money laundering professionals will have more opportunity than
ever to share information, identify new techniques to effectively
zero-in on those who profit off of the exploitation of others, and
provide actionable information to law enforcement."
"PayPal and Polaris coming together is a great example of
private and non-profit entities joining forces to achieve a
positive social impact that neither party could fully realize on
their own," said Aaron Karczmer, chief risk officer and EVP, Risk,
Regulatory, and Protection Services of PayPal.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 16, 2020 15:14 ET (20:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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