Institute for Financial Integrity’s Post

💰 Illegal wildlife trade and #MoneyLaundering are interlinked. But how can anti-money laundering frameworks be strengthened to help tackle environmentally destructive crime? Today, on #WorldEnvironmentDay, we've launched a report that takes a deeper look at the anti-money laundering laws in #China, with recommendations on: 🔹 Legislation and enforcement 🔹 Supervision and administration 🔹 International cooperation Read it here: https://loom.ly/UjDNXlw Organised Crime and Policing at RUSI #WED2024 #EnvironmentalCrime #AML #AntiMoneyLaundering #FinancialCrime #IllegalWildlifeTrade #IWT

Very interesting report on how China's AML framewroks should improve to better investigatie and prosecute wildlife crimes by using financial investigations and the importance of recognizing IWT as a predicate offense. https://lnkd.in/ex2NVbSt

Interesting publication on #WorldEnvironmentDay The role of #China in illegal wildlife trade and money laundering is key to continue in the fight against environmental corruption. I am thankful to continue learning from these important organizations at the Countering Environmental Corruption Practitioners Forum. If you haven't join yet, here is the link to keep informed about all of our meetings and resources: https://lnkd.in/dKeW9sTk

#aml #antimoneylaundering #moneylaundering #financialcrime #fincrime One of the key themes this one highlights is that it’s been difficult to track back to where the cheetahs have been trafficked from but isotope analysis may help with this. What is isotope analysis and how does it relate to tracing where these cheetahs come from? You may ask. Have a read and find out. This one is a long read but definitely worth spending the time on - it really does dive into the illegal trade in cheetahs. Additionally, here are just two standouts: 🐆 “The United Arab Emirates, for example, banned private ownership of dangerous animals, including cheetahs, in 2016. Some owners surrendered their pets. However, plenty of citizens with illegal cheetahs continue to openly display them on Instagram and Facebook, said Tricorache. In some cases, the owners’ estates masquerade as licensed private zoos. “They use their licenses to launder illegal wildlife,” she said”. 🐆 “Somaliland is a central hub for the illicit cheetah trade. And because it is a breakaway state that hasn’t yet been recognized by the international community as an official country, Somaliland lacks resources and support to effectively combat illicit trade. Only about 10 percent of trafficked cheetah cubs are intercepted by law enforcement, according to Tricorache’s data. Corruption hampers enforcement, too: “Police and customs and army, and even the wildlife departments, they get paid very little,” she said. “It’s very easy to tell an army guy, listen I’ll give you $2,000 and you let me get through with these eight cheetahs.”” Check it out plus much on The Laundry® at: thelaundrynews.com

🌲 Today is the #InternationalDayOfForests. Did you know that #wildlife and #forest crime comprise the 4th largest illegal trade worldwide after firearms, drugs & human trafficking?      Criminal networks involved in illegal #logging and illicit #timber trafficking often traffic in other illicit commodities. Our crime convergence report illustrates that in Thailand, drugs are a way to pay for the labour of illegal timber harvesters and to launder money. In the Amazon region, cocaine is often smuggled using the existing supply routes of the timber industry.     #Corruption is at the heart of timber trafficking. Our report on the role of corruption in enabling wildlife crime describes a case in Peru in which corrupt regional government officials approved harvesting plans and permits containing false information to launder timber that was allegedly illegally harvested.    Read more here: https://bit.ly/3PToMSV 🌱    #InternationalForestDay #IntlForestDay #Forest  

The illicit wildlife trafficking network, spanning from Central Africa to Nigeria, thrives in the gaps of inadequate policies within Nigeria. Exploiting these weaknesses, traffickers strategically leverage Nigeria as a crucial transit hub. This intricate web often traces routes through porous borders, navigating regions with lax enforcement. Notably, the intersection of illegal wildlife trade and mining activities is a concerning dynamic across many West African countries. The correlation between these two activities underscores the need for a comprehensive approach in addressing environmental crimes in the region. Routes commonly utilized by traffickers traverse border areas, taking advantage of regulatory loopholes and limited surveillance. Recommendations to counter this complex issue include bolstering cross-border cooperation, enhancing intelligence-sharing mechanisms, and fortifying policies at the regional level. Strengthening the capacity of law enforcement agencies to monitor key transit points and employing technology for effective tracking are vital steps in curbing this illicit trade. Additionally, a collaborative effort involving regional governments, international organizations, and local communities is crucial. Implementing stricter regulations, conducting regular border patrols, and fostering awareness campaigns can contribute to dismantling the illicit networks that exploit weak policies and threaten the rich biodiversity of West Africa. Dr. Elisha Bello.

Yesterday we launched "The Wildlife Laundromat", a report on how corruption enables trafficking of wildlife in Brazil. 🐦 🐸 🐊 🐢 🦎 🐍 🐠 🕷 Following a comprehensive analysis of legal and institutional frameworks aimed at combating wildlife trafficking, we identified risks of fraud and corruption for domestic and international transactions. We also identified shortcomings and risks of corruption in inspection, investigation, and accountability actions performed by environmental and law enforcement agencies. Finally, we examined how wildlife trafficking is facilitated by crimes of laundering. In total, 24 risks of fraud, corruption and laundering that enable wildlife trafficking were identified. Based on this assessment, as well as the analysis of control systems and efforts to combat illegal wildlife trade, we issued recommendations to strengthen the fight against wildlife trafficking with an anti-corruption approach. These recommendations seek to prevent and detect identified fraud, corruption and laundering risks and hold perpetrators accountable. Summary in english: https://lnkd.in/d9cxcwrQ Full report en portuguese: https://lnkd.in/eg_xfjq4

Illegal Wildlife Trade is one of the most lucrative forms of transnational organised crime, generating billions in profits every year. The Illegal Wildlife Trade is estimated as the fourth most profitable crime globally with estimates of up to $1 to $2 trillion annually, according to the World Bank in 2019. #ACAMS

World Politics Review--Why Stopping Environmental Crime Is a Matter of National Security (7 July 2020) In a July 2020 article, the World Politics Review noted that Environmental Crime (Green Crime) encompasses various activities. "The Financial Action Task Force (FATF) has compiled a report on wildlife trafficking, just one of several criminal activities that provide income for state and non-state actors. The Illegal Wildlife Trade (IWT) is a major transnational organized crime that generates billions of criminal proceeds each year. IWT fuels corruption, threatens biodiversity, and can have a significant negative impact on public health and the economy. To move, hide, and launder their proceeds1, wildlife traffickers exploit weaknesses in the financial and non-financial sectors, enabling further wildlife crimes and damaging financial integrity. Despite this, jurisdictions rarely investigate the financial trail left by this crime. Other sources of illicit revenue include illegal logging, mining, fishing, and the waste management industry. Estimating the total value of money generated from these crimes is challenging, as much of it is in cash and is often mingled with legal business transactions to conceal its origin, making it difficult to track." #OrganizedCrime #TransnationalOrganizedCrime #EnvironmentalCrime #GreenCrime #IllegalWildlifeTrade  #MoneyLaundering #FATF #WildlifeTrafficking #IllicitRevenue #IllegalActivities" https://lnkd.in/gGDMt-ti

National Crime Agency (NCA) broadly addresses in Issue 25 #SARsinAction magazine the fight against wildlife crime, particularly focusing on the financial aspects such as money laundering and the evasion of financial sanctions related to the illegal wildlife trade. This magazine publication aims at stakeholders involved in the Suspicious Activity Reports (SARs) regime, emphasizing the importance of combating wildlife crime through international cooperation and financial intelligence. What are the key initiatives? Discussion on efforts like Project Anton, which seeks to combat illegal wildlife trade by improving awareness about the laundering of proceeds from this crime. Deputy Director Head of the UK Financial Intelligence Unit (UKFIU), Vince O’Brien emphasized: “Wildlife traffickers exploit weaknesses in the financial and non-financial sectors to launder the proceeds of this crime.” Which animals are most highlighted? The European eel is highlighted as the most trafficked species, with illegal trade severely impacting its population. Other animals such as peregrine falcons, reptiles, parrots, bears, cheetahs, and CITES-listed species are also mentioned, emphasizing the widespread and damaging effects of wildlife trafficking on global biodiversity. A specific focus is on page 12 regarding the NECC Amber Alert that was issued in January 2024, detailing risks within the art storage sector, including the use of such facilities by high-net-worth individuals for illegal activities, and stressing the importance of due diligence and reporting obligations. There is a warning about the art market's vulnerability to criminal exploitation, urging thorough due diligence to prevent the art storage sector from being used in sanction evasion and money laundering schemes. There is no doubt that the world’s largest art markets lack robust anti-money laundering supervision. Dr Maria Nizzero raised a very important concern in an article at Royal United Services Institute: “Many in the UK market do not feel that such obligations are warranted: they agree that there are risks, but not in their gallery – so why should requirements be so stringent and the costs so high?” She further added: “With so many intermediaries in the chain of art transactions, understanding who an art market participant is becomes a complicated task.” These concerns highlight the importance of partnerships between law enforcement, financial institutions, and international organizations in tackling wildlife crime and related financial crimes. The Alert warns of the risks posed by inadequate and irregular Know Your Customer (KYC) research, which opens the door for criminals to circumvent legislation and regulations, putting both the company and the UK at risk. In your opinion, how can the art market address the growing threat of criminals exploiting due diligence gaps to use the industry for illicit activities? #AML #Compliance #NCA #SAR #AMLWatcher