Why start a Financial Coalition?
The trade in child sexual abuse images generate large revenues and is run just like other illegal enterprises that set out to make as much money as possible. A major portion of the trade in images takes place over the Internet where buyers and sellers use various payment channels to transfer money between each other. The finance industry is a key player in finding solutions that pertain to transaction in the financial systems and thereby constitute an important part in the crime-prevention efforts in stopping the trade in images of sexual assault on children.
How are the transactions stopped?
The method which the Financial Coalition uses focuses on finding the sales location in order to cut off the seller’s means of completing monetary transactions. One benefit of preventing the sales location from completing sales transactions is that it becomes a crime prevention measure which does not violate the individual’s privacy. Through the Financial Coalition’s members impeding the means of using the financial systems for this kind of crime, it contributes to increased costs, which drives up overhead costs and makes the trade less profitable.
How does the cooperation work?
The police bear the ultimate responsibility for combating child pornography. At the same time, the finance industry plays a key role in finding solutions that pertain to transactions in the financial systems and thereby a vital part in the work in preventing similar payments. Member of the Financial Coalition cooperate both with the police with the aim of impeding and preventing payments, and with ECPAT Sweden in its aim of increasing awareness of the problem.