30 July, 2020
The Financial Action Task Force (FATF) on Monday 27 July 2020 hold a webinar on to discuss the FATF’s recent report on Money Laundering and the Illegal Wildlife Trade.
The illegal wildlife trade (IWT) is a major transnational organised crime, which 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.
This study greatly improves the FATF Global Network’s understanding of the financial flows from IWT, it shows the need to further improve the collective understanding of the risk relating to IWT, including the activity of non-financial entities in combatting IWT financial flows, greater understanding of the differing geographic supply chains, and good practices to address unique challenges in managing assets recovered during wildlife crime investigations.
The objective of this webinar was to discuss the main money laundering trends linked to IWT, as well as practical examples of how governments, the private sector and civil society can tackle ML from IWT.
This webinar was aimed at national and international AML/CFT and wildlife crime experts, as well as private sector and civil society representatives. The webinar included senior participation from the FATF, including the current FATF President and representatives from national governments, the United for Wildlife Financial Taskforce, the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the United Nations Office for Drugs and Crime (UNODC), and civil society.