Establishment of a Regional Agreement on Financial Service Providers to Combat Sexual Exploitation of Children

DOI

10.2991/978-2-38476-325-2_12How to use a DOI?

Keywords

Child Sexual Exploitation; Crime Prevention; Financial Service Providers; Regional Agreement

Abstract

Child sexual exploitation is a growing issue affecting victims, their families, and society. This research highlights the need for an ASEAN regional agreement to combat this issue, focusing on the role of financial service providers. The agreement should regulate key substances and address challenges in its formation and implementation. The agreement aims to harmonize regulations and customer due diligence standards and strengthen the reporting of suspicious transactions. However, challenges include legal disparities among ASEAN member states, concerns about customer data confidentiality and personal data protection, and limitations in financial service providers’ technical capacity. To overcome these, a flexible approach, close cooperation, and capacity-building support are recommended. The study recommends expediting the establishment of the agreement with stakeholder involvement, enhancing financial service providers’ capabilities in identifying signs of child sexual exploitation, and conducting regular evaluations of the agreement’s implementation. By working together within the ASEAN regional agreement, financial service providers can significantly impact ending the cycle of child sexual exploitation and working towards a future where every child can live in safety and dignity.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Joice Soraya
AU  - Muhammad Ansy Althafzufar
PY  - 2024
DA  - 2024/12/19
TI  - Establishment of a Regional Agreement on Financial Service Providers to Combat Sexual Exploitation of Children
BT  - Proceedings of the ASEAN Conference on Sexual Exploitation of Children (ACOSEC 2024)
PB  - Atlantis Press
SP  - 96
EP  - 102
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-325-2_12
DO  - 10.2991/978-2-38476-325-2_12
ID  - Soraya2024
ER  -