Liechtenstein Initiative for Finance Against Slavery and Trafficking (FAST)

  • Project Status:
    UNU-CPR RESEARCHERS: Daniel Thelesklaf

    This project is a follow-up to the Financial Sector Commission on Modern Slavery and Human Trafficking. On 27 September 2019, The Financial Sector Commission on Modern Slavery and Human Trafficking released its final report, “Unlocking Potential: A Blueprint for Mobilizing Finance Against Slavery and Trafficking“. The Blueprint provides a collective-action framework for different financial sector actors to take action to end modern slavery and human trafficking. It sets five Goals, which are accompanied by 30 Actions:

    1. Compliance with laws against modern slavery and human trafficking
    2. Knowing and showing modern slavery and human trafficking risks
    3. Using leverage creatively to mitigate and address modern slavery and human trafficking risks
    4. Providing and enabling effec­tive remedy for modern slavery and human trafficking harms
    5. Investment in innovation for prevention

    The Liechtenstein Initiative for Finance Against Slavery and Trafficking (“FAST Initiative”) is designed to promote awareness and drive implementation of the Blueprint and its Goals and Actions. FAST is a project of the United Nations University Centre for Policy Research, with the support of numerous project partners, including the Office for Foreign Affairs of the Principality of Liechtenstein, the Foreign Ministry of the Kingdom of the Netherlands, the Department of Foreign Affairs and Trade of the Commonwealth of Australia, Minderoo Foundation’s Walk Free Initiative, Liechtenstein private sector and charitable donors, and the Association of Certified Anti-Money Laundering Specialists (ACAMS).

  • See the FAST website for further details, including news, upcoming events and our monthly newsletter.

    Phases of Work

    Phase 1 – Initial Outreach and Dissemination – October 2019 to March 2020

    This phase focuses on generating maximum visibility for the FAST Blueprint across the full range of financial sub-sectors, continents and language groups. This will occur through a combination of public engagement at high-visibility and high impact events, including the UN Business and Human Rights Forum in Geneva, Davos 2020, events in Asia, press engagement, and small-group convening led by Financial Sector Commissioners (‘Commissioner Roundtables’). The Secretariat will harvest insights from these engagements and disseminate them through a regular newsletter and more analytical ‘Implementation Insights’ circulated to interested stakeholders.

    Phase 2 – Activation of implementation efforts and networks – April to December 2020

    This phase moves from initial dissemination and outreach to active engagement with different financial sub-sectors to promote implementation of the Blueprint. The Secretariat will continue to support participation in sectoral and sub-sectoral events to promote the Blueprint, and it will also work with individual financial sector entities and groups to promote implementation and foster collective learning and engagement efforts, including through dissemination to around 75,000 AML professionals through ACAMS’ networks.

    Phase 3 – Collective learning – January to June 2021

    In the final phase, the FAST Secretariat will focus on promoting the harvesting, sharing and absorption of lessons learned on Blueprint Implementation. The aim is to promote learning across financial sub-sectors and encourage a systemic perspective and change.

    First, the Project Team will engage in a period of ‘Outcome Harvesting’. This is a contemporary approach to Monitoring & Evaluation (M&E), which involves the collection of stories of change from stakeholders involved in a project. ‘Process tracing’ techniques are then used to understand how a project (in this case the publication and implementation of the Blueprint) contributed to the change discussed in the story. To undertake this analysis, the Project Team will use the information gathered in Phases 1 and 2 concerning Blueprint Implementation. They will supplement this with an intense burst of stakeholder engagement and research in Q1 2021, to collect and analyse multiple stories of change.

    These stories of change, and the insights they reveal, will then inform the design and delivery of a 2-day conference. This conference will be open to all interested FAST Blueprint implementers. The conference will involve a mix of plenary panels, smaller workshops and lessons-learned sessions. It will explore lessons learned on Blueprint Implementation across different sub-sectors. At least one of the final sessions will reflect on ‘next steps’ in FAST Blueprint Implementation. A meeting summary will be published after the event summarizing key lessons learned, how the state of play on financial sector engagement with modern slavery and human trafficking issues has shifted since the publication of the Blueprint, and proposed steps for further sector mobilization.