The Financial Action Task Force (FATF) has conducted a new study to provide guidance to countries on measures they can take to combat money laundering (ML) from the illegal wildlife trade (IWT). The Study draws on inputs and case studies from over 50 countries from across the FATF Global Network and observers (including ESAAMLG members), as well as civil society. The Co-chairs of the project were Botswana, China and UK.
The Report depicts that despite the significant criminal gains involved on IWT, countries and private sector are not prioritizing efforts to identify, trace and combat illicit financial flows (IFFs) from this trade in line with the risk. To combat the IFFs from IWT, countries should therefore as a priority:
The private sector also has an important role to play in combatting IFFs from IWT. The study therefore identifies good practices and risk indicators to assist private sector and countries to identify potential suspicious financial activity for IWT.
Click here for Executive Summary
Posted: 17, Jul 20
|Memorandum of Understanding|
|Trends and Methods|
|Country National Strategies|
|Compliance and Financial Inclusion|