Financial Inclusion to Protect Vulnerable Populations from Modern Slavery: A Compilation of Practices

Loria-Mae Heywood and Leona Vaughn, (2024). Financial Inclusion to Protect Vulnerable Populations from Modern Slavery: A Compilation of Practices. United Nations University Centre for Policy Research, 1-28

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    Author Loria-Mae Heywood
    Leona Vaughn
    Title Financial Inclusion to Protect Vulnerable Populations from Modern Slavery: A Compilation of Practices
    Appearing in United Nations University Centre for Policy Research
    Publication Date 2024-05-28
    Place of Publication New York
    Publisher United Nations University
    Start page 1
    End page 28
    Language eng
    Abstract This Thematic Review provides a compilation of current practices addressing the interconnections between financial inclusion and protecting vulnerable populations from modern slavery. Building on the findings from the Liechtenstein Initiative for a Financial Sector Commission on Modern Slavery and Human Trafficking, laid out in the FAST Blueprint, research and interventions on modern slavery indicate that financial exclusion is a risk multiplier for experiencing modern slavery; financial exclusion is often a consequence for those with lived experience of modern slavery and can increase vulnerability to re-victimization; and financial inclusion, especially in the context of increasing financial literacy, economic resilience, and sustainable livelihoods, can help to offer protective factors against modern slavery. The current practices gathered through desk-based research by FAST in this review will help financial service providers, supervisors, and regulators, as well as other actors, to understand the value proposition for expanding access to finance for groups that they may not be targeting currently, as a contribution to international efforts to prevent modern slavery.
    Keyword Modern slavery
    Financial inclusion
    Finance (corporations)
    Human trafficking
    Copyright Holder United Nations University
    Copyright Year 2024
    Copyright type Creative commons
    ISBN 9789280866
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    Created: Tue, 28 May 2024, 22:59:21 JST by Tess Pilkington on behalf of UNU Centre