Key developments include:
➡️ Public-Private Partnership: The NCA is working with financial institutions to show how banks can identify possible livestreaming payments and help law enforcement stop ongoing abuse;
➡️ Financial Footprints: The NCA highlighted that every livestreamed abuse offence involves an exchange of money and creates an opportunity to prevent harm;
➡️ SHPO Monitoring: Financial institutions can help law enforcement monitor Sexual Harm Prevention Orders (SHPOs), which can include restrictions on bank accounts, international transfers and travel abroad; and
➡️ Transaction Indicators: Banks will receive guidance to identify transactions linked to offenders paying facilitators overseas..
✅ Firms should review CSA-related typology libraries and transaction monitoring (TM) rules to ensure they reflect the risks highlighted by the NCA and can detect financial activity linked to CSA in support of law enforcement authorities (LEAs).
💡Plenitude provides health checks for firms’ TM systems, helping to identify gaps in risk coverage, such as CSA, and options for improving efficiency and effectiveness. Visit our website for more information: https://www.plenitudeconsulting.com/services/technology-advisory-services