The Financial Action Task Force (FATF) has published a report, “Money Laundering and the Illegal Wildlife Trade’’, which highlights how such crime is generating billions of dollars a year that are being laundered through established channels.
Rahman Ravelli’s Nicola Sharp outlined the problems this presents for financial institutions and her thoughts were used by Regulatory Intelligence for an article. In the piece, Nicola states that such organisations all have a significant role to play in identifying any activity linked to the illegal wildlife trade. She emphasises that such crime is currently low on these organisations’ list of priorities – and that this is a situation that needs to change.
The full Thomson Reuters Regulatory Intelligence article can be read here. (Subscription required)