Kidnappings for Ransom

Fear and panic: Someone has gained control over another person against their will and is now holding them hostage. Incidents of kidnappings for ransom continue to rise, and no sector of society is immune to this sudden threat.

The modus operandi of kidnappings for ransom is to gain an obscene amount of money, demanding immediate personal gain within a short timeframe. Plus, a release that is sadly NEVER guaranteed. That is people ransomed for Money. 

Differentiating Kidnappings from Human Trafficking

Kidnappings, while similar in their heinous nature, differ from human trafficking, which is a 150 Billion dollor industry in itself, as discussed in our recent financial crime article. The differential is that trafficking condemns victims into an ongoing commercial gain for the perpetrators. Forced into exploitation – money still being the common denominator. It’s just the term of the abduction (and the criminal’s ongoing remuneration) that differs. 

Kidnappings for Ransom are Financial Crimes Too 

Even ongoing criminal remunerations mean a record of transactions. So logically the worst happens in these highly charged emotional environments when large amounts of cash (physical or otherwise) need to be transferred or hidden. Sending the extremely volatile process over the tipping point of whichever side. 

Follow the Money 

Victims ransomed for money and any other form of trafficking generally leaves a trace. As does practically everything else we do in these digital times. And laundering is nowhere as easy as it was to do in earlier times because of this fact. The difference between then and now is paramount. Due to modern innovation, a new solution to help combat all illegal activity steps into the equation that complicates this very unpredictable outcome, for the better. A real hero – the Information Technology we have in today’s Digital times that was never there before. 

“Back then” too, everything was timestamped, databased, verified, checked and matched. But within isolated enterprises and walls, within slow timeframes and with only a few industries (and authorities) that had the privilege of sharing information as freely as we can today. While not relevant to the act of kidnappings for ransom, one can’t help but think about the famous American con artist Frank Abagnale, portrayed by Leonardo di Caprio in the 2002 movie, “Catch me if you Can”. Would the fast-talking conman have sidestepped the stringent regulatory frameworks now established to stop financial crime in its tracks?

CLOUDY With a Chance of Justice

Proverbially, the heavens we look to, lie right above the answer that stares back at us. Cloud Technology is the cog that drives mankind’s very compressed efforts to identify anyone associated with any form of wrongdoing whatsoever. Simply put, a quick background check was never as “quick” or nearly as thorough as it is today.

Compliance with FICA, for example, enables everyone to know exactly with whom they are talking. Instantly. Being able to request and gather all requirements you need to know when onboarding staff, clients or third-party suppliers. Knowing when to call someone back or when to call the police. 

Kidnappings for Ransom – Downfall, Risk and Association

Day by day, step by step and with more tools to keep things both transparent and accountable such as Cloud than ever before – humanity deals with criminals. And because of the technology used to combat them, no entity can afford to be caught in the crosshairs. Unfortunately regardless of if the association was a mistake or not. Because mercilessly, any financial association with those involved in kidnappings for ransom could very well lead to your downfall too. 

This is precisely why the Rahn Financial Crime compliance platform was developed and launched – to protect you, and your brand, from such acts of financial criminality. Our integrated sanctions screening engine is no match for those whom you really don’t want to do business with.

RAHN Financial Crime – Who Are You Working With?

RAHN Consolidated Pty Ltd. is a proudly South African company, committed to equipping financial professionals with real-time resources to analyse and monitor data quality and identify sanctioned entities. We can also source you top data professionals to assist you in navigating your financial IT landscape. 

Contact us today to explore how we can empower your enterprise with a financial attack strategy, or provide specialised services and personnel to your project and delivery teams.