Great news for organizations fighting human trafficking!
Cryptocurrency exchanges like Coinbase, Paxful, Gemini, and BitFinex have all joined the Anti-Human Trafficking Cryptocurrency Consortium, or ATCC. The consortium is a nonprofit focused on intelligence sharing, best practices, and the development of tools to fight trafficking. The ATCC brings together crypto exchanges, blockchain intelligence firms and law enforcement to combat human trafficking and child sexual abuse material, also known as CSAM.
The four exchanges that are members of the ATCC will be monitoring crypto transactions to detect characteristics associated with human trafficking. This information will then be shared among all ATCC members as well as including intelligence firms, advisory members and law enforcement officials to help combat illicit activities.
The growth of monies sent to CSAM sites is alarming and this is really a step in the right direction to stop a continued increase but information sharing is key. The communication needs to continue.