Crimes against children are heinous and known to be vilified even among the most notorious criminals, but these crimes are, unfortunately, also extremely profitable. The child pornography (CP) industry is a criminal business enterprise with far-reaching consequences for its victims. In a world of increasingly fast-paced, global, and anonymous transactional options, financial crimes professionals have a unique opportunity to see what others cannot, and a responsibility to aggressively research, report, and document child sexual exploitation. To this end, financial institutions (FIs) should develop targeted training programs, work collaboratively with other industries, align their reporting with law enforcement (LE) initiatives, and advocate for changes in Suspicious Activity Reporting (SAR) that will more effectively capture evolving trends pertaining to child pornography. In this article, we will explore how FIs can exceed regulatory standards, assist LE with money laundering prosecutions related to child pornography, cut the flow of funds to illicit criminal enterprises, and most importantly, help victims.
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