According to the International Labour Organisation (ILO), modern slavery impacts 40.3 million women, men, girls and boys.
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Why do I need to know this? Modern slavery is not something happening in distant lands. It's happening here and now. Every country is impacted by modern slavery and every business is exposed to risks of modern slavery.
Here are five modern slavery terms you should know.
Slavery involves ownership or perceived ownership. The victim is owned by someone or perceives they are owned by someone.
2. Modern slavery
Modern slavery is exploitation. It encompasses slavery, debt bondage, human trafficking and forced labour.
3. Bonded labour
Bonded labour or debt bondage occurs when someone is forced to work for free to pay off a debt or loan. At times the debt may be inflated or have unreasonable interest rates. Typically the person's labour is valued at a very low rate, to ensure they are forced to work for longer.
4. Forced labour
Forced labour involves threats. A victim of forced labour has no choice but to do the work or perform the service because they are being threatened.
5. Human trafficking
Human trafficking involves coercion, deception and/or trickery. The victim is brought into a situation of exploitation through a series of intentionally deceptive actions.
Modern slavery is happening every day in every country. Awareness of modern slavery is an important step towards addressing it.