Modern Slavery, the term used to describe slavery, labour exploitation, forced labour and human trafficking, affects 50m people world wide with the annual proceeds of these crimes reaching $150bn write EY’s Jenny Pattwell and BPFI’s Niamh Davenport. They analyse the links between these crimes and the financial services system and how these links can be leveraged by the FS industry and, in collaboration with law enforcement, Government and NGOs, used to combat these crimes, the non-detection of which cost $21 billion in AML fines in 2021 alone. They also outline the latest industry efforts in the area.