The following is an excerpt from an article published on CoinDesk in which BitAML founder, Joe Ciccolo, contributes his insights on tracking illicit profits from human trafficking on the blockchain.
[B]etween 2005 and 2012, there were 25 human trafficking convictions in the country, with the International Labour Organization (ILO) estimating a total of 20.9 million victims of human trafficking around the world. Globally, total profits generated from the industry are estimated by ILO to be $150bn.
Helping track those profits is Joe Ciccolo, the second half of the so-called ‘Bitcoin Joes’ as they’re known in the AML industry, along with Joseph Mari.
On 9th March, Ciccolo’s BitAML is speaking at a sister-event to the Toronto gathering hosted by the Chicago chapter of ACAMS. Also scheduled to attend is the state’s Illinois Blockchain Initiative, first reported by CoinDesk, the president of Chicago-based Burling Bank, the CEO of bitcoin ATM company Digital Mint and more.