FATF Report: Money Laundering and the Illegal Wildlife Trade June 2020

Event: Following the Money Trails of the Illicit Wildlife Trade

FATF Report: Money Laundering and the Illegal Wildlife Trade June 2020

30 June 2020
Author / Speaker: 
Financial Action Task Force (FATF) [node:field_last_name], Financial Action Task Force (FATF) - Other materials by the author

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The report highlights that jurisdictions should view the proceeds generated by IWT as a global threat, rather than as a problem only for those jurisdictions where wildlife is illegally harvested, transited, or sold. In particular, criminals are frequently misusing the legitimate wildlife trade, as well as other import-export type businesses, as a front to move and hide illegal proceeds from wildlife crimes. They also rely regularly on corruption, complex fraud and tax evasion. Another key theme of this study is the growing role of online marketplaces and mobile and social media-based
payments to facilitate movement of proceeds from wildlife crimes. These trends highlight the increasing importance of a coordinated response from public authorities,
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Learning Event


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