Posted in Financial Crime Premium

Global Threat Assessment – By John Cusack – Available Now to Read / Download - Premium

Global Threat Assessment

by John Cusack
Despite the limitations presented in estimating criminal activity designed to be hidden, the results in the Global Threat Assessment present a bleak picture. 

Criminal markets are generating more illicit funds than at any other time in our history, with...

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Wildlife Trafficking
Posted in IWT

Wildlife Trafficking – Intelligence Briefing by FCN

This is an extract from the Intelligence Briefing on Illegal Wildlife Trafficking by Financial Crime News. To obtain a copy of the Briefing contact FCN directly.

Wildlife Trafficking endangers many species, with particular concern over iconic African mammals, such as the Elephant and the Rhino, but also the Pangolin, which is the most trafficked mammal of all, Gorillas, Big Cats, Reptiles, Birds (like the African Grey Parrot) and wildlife from outside Africa.

Wildlife Trafficking generates significant proceeds from Elephant, Rhino and Pangolin markets. 

The Elephant Ivory market is valued at approximately US$240 million to $720, with the Rhino market valued at between US$91 million and $698 million and for Pangolin’s the market is estimated at US$46 million annually.

Wildlife Trafficking in Elephant Ivory, Rhino Horn and Pangolin Meat and Scales is undertaken alongside other crimes, not just those to facilitate the illicit trade like corruption and forgery of documents, and the killing of rangers, and by organised criminal gangs also involved in drugs, arms, goods and human trafficking as well as in some cases links have been drawn to terrorist groups operating in Africa..

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Posted in IWT Premium

Intelligence Briefing – Illegal Wildlife Trafficking by FCN - Premium

The following is a short summary of the Illegal Wildlife Trade, focussing on some of our most iconic species that are threatened. 

The Summary is taken from a 20 Page Intelligence Briefing, which details how the Trade works, a current state threat assessment, available potential Red Flags and ...

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Posted in Financial Crime

Book Review: Poached – Inside the Dark World of Wildlife Trafficking by Rachel Love Nuwer

In “Poached” the  award winner Science journalist, Rachel Love Nuwer, investigates the international trade in illegal wildlife, detailing how demand for exotic goods such as elephant ivory, rhino horn and pangolin scales is being met through the human stories that are  endangering the survival of iconic wildlife and of those trying to fight back.  

The risk to our wildlife comes from human demand for exotic pets, jewellery, medicine, meat and trophies, which is driving a worldwide poaching epidemic. It also comes from growing human populations that put even greater pressure on land required to sustain many species.

The author travels to the front line in this struggle to hotspots in Africa, including Tanzania and South Africa, to China, Laos and Vietnam where supply and demand economics drive this trade to investigate and provide insights to better understand the dynamics involved. 

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Posted in Financial Crime

CITES Conference Closes – Japan and EU to do more on Ivory

Last week at the 18th triennial meeting of CITES members, those responsible for regulating the international wildlife trade closed the conference which mostly saw victories for animal welfare. In a previous recent Financial Crime News Post we correctly predicted Giraffes would make it onto Appendix 2 for the first time, that proposals to weaken trade restrictions on Rhino horn would be defeated and African Elephant proposals to increase trade would also be rejected. More good news came with the decision to include Mako Sharks, Giant Guitarfish and Wedgefish on Appendix 2 which will provide much needed protection. 

Another decision to be lauded limits the export of wild African elephants, so that elephants from Botswana, Zimbabwe, Namibia, and South Africa can only be exported to African countries where elephants live or used to live.

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Posted in Financial Crime

CITES Meets in Geneva – Wildlife at Risk

Governments, Trade Associations and NGO’s are meeting to talk trade and conservation with concerns around Elephant Ivory, Rhino Horn and the fate of the Mako Shark being high on the agenda at a CITES Wildlife Conference in Geneva. In all more than 50 proposals have been tabled for discussion, which include proposals submitted on not only Elephants, Rhino’s and Sharks but also on Pangolin’s, Big Cats and Giraffes. 

As concern for the future of the wildlife on our planet increases, the international body tasked with regulating trade in endangered species is once again gathered for its 18th Conference of the Parties (COP) in Geneva being held between the 17-28th August, 2019. Originally slated for May 2019 in Sri Lanka, it was switched after the Easter terrorist attacks in March that killed more than 250.

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Posted in Financial Crime

Interview with Absa’s Nic Swingler

On a recent visit to South Africa, Financial Crime News was delighted to meet with Nic Swingler Head Financial Crime Compliance at Absa Group Limited, who in an interview discussed the fight against financial crime on the African continent and in South Africa in particular. 

FCN: How did you come into your current role?

NS: I am not a Financial Crime “lifer” and this role was not really part of my early career planning!  Previously I was the COO for our Corporate & Investment Bank.  The front line experience I gained over many years as well as direct exposure to products, operations, technology platforms and data were amongst the key attributes required to enable and deliver a high quality risk management capability across Financial Crime Compliance. 

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Posted in Financial Crime

Interview with the Black Mambas Anti Poaching Unit

In this Interview with the Black Mamba’s Anti Poaching Unit. Qolile Matebula and Alice Bromage sat down with Financial Crime News to discuss anti poaching in South Africa and their work in protecting some of the world’s most endangered wildlife. This was just ahead of a presentation to FCC leaders from 30 Banks from 13 Different African Countries discussing the Illegal Wildlife Trade as a part of Standard Chartered Banks’ Regional African Correspondent Banking Academy in Johannesburg.

FCN: Who and what are the Black Mambas?

AB/QM: The Black Mambas were founded in 2013 by Craig Spencer, the head warden of the 52,000 hectare Balule Nature Reserve as part of the Greater Krüger National Park, in South Africa, and are named after a very poisonous snake, to protect the animals from poachers.

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Wildlife Trafficking
Posted in AHT FATF

New FATF Priorities include targeting the Illegal Wildlife Trade

After an impressive year for FATF, under the US Presidency, which signed off last month, and concluded with the Florida Plenary, the Chinese Presidency now has the lead and has already signalled both an intention to continue with important existing FATF priorities, but are also signalling the next year will include something different, by including the illegal wildlife trade as an additional new priority.

The FATF announcement is significant, bearing in mind the importance China plays in the illegal wildlife trade as a major destination country for all manner of endangered animals, but this is not just about China, which had taken significant action over the last few years, including banning ivory, but about the entire FATF membership and all Countries subject to implementing FATF standards.

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Posted in Financial Crime IWT

Wildlife Trafficking Syndicate ensnared by United Forces

On 13 June 2019, the US Department of Justice, U.S. Attorney’s Office, Southern District of New York indicted four individuals, Moazu KROMAH, Amara CHERIF, Mansur Mohamed SURUR, and Abdi Hussein AHMED charged with participating in a conspiracy to traffic more than US$7 million in rhino horns and elephant ivory. In addition, KROMAH, CHERIF, and SURUR were charged with conspiracy to commit money laundering, and SURUR and AHMED were charged with participating in a conspiracy to distribute and possess with intent to distribute more than 10 kilograms of heroin. One of those charged is now in the US, another awaiting extradition in Senegal and two remaining Kenyans still at large, on the run.

This is not just important in terms of the action taken but how co operation across agencies and between public and private sectors and effective information sharing made a difference.

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