Victim Services Toronto (VST), a non-profit organization providing case management, advocacy and crisis response for human trafficking survivors, has secured support from an insurance and financial services giant.
TD Bank Group announced it would bestow a three-year grant to support VST’s Reclaim program, which helps survivors eliminate any debt incurred fraudulently. With the aid of banks, creditors and government agencies, the program has removed C$1 million in fraudulent debt.
“Through our corporate citizenship platform, the TD Ready Commitment, we are proud to support the expansion of VST's Reclaim program designed to provide immediate financial relief and help those affected by human trafficking reclaim feelings of freedom, healing, and self-determination,” said Alicia Rose, AVP, Social Impact & Strategy, Sustainability & Corporate Citizenship at TD Bank.
VST recently hosted two financial roundtables meant to explore solutions for human trafficking survivors.
During these discussions, a human trafficking survivor described the financial challenges that they face after escaping, including fraudulent debt. On average, the debt could amount to C$20,000 per victim, limiting their access to housing, education and employment, as well as increasing the risk of returning to traffickers.
Participants also discussed ways to support survivors, including developing financial products and services. Two existing initiatives were highlighted – VST’s Reclaim program and Ontario’s Bill 41, the Protection from Coerced Debts Incurred in Relation to Human Trafficking Act.
Bill 41, which was passed unanimously in December 2023, requires financial institutions and collection agencies to forgive debts incurred through human trafficking and remove them from survivors’ credit reports.
The bill has received bipartisan support in the Ontario Legislature and stakeholders, including VST and the Canadian Bankers Association, continue to advocate for similar protections nationwide.
“The Protection from Coerced Debts Incurred in relation to Human Trafficking Act (Bill 41) extends this support to survivors of human trafficking, enabling them to rebuild their lives free from the burden of unfair and insurmountable debt,” said Anthony Ostler, president and chief executive officer of the CBA.
