Financial firms not doing enough to track illicit wildlife trade
The SA Anti-Money Laundering Integrated Task Force says 86% of financial firms have no system to detect such flows
17 November 2021 - 16:10
SA is one of the epicentres of the global illegal wildlife trade yet its financial services firms are not doing enough to identify the illicit financial flows that prop up the criminal networks driving the scourge.
That’s the finding of a report into financial flows linked to the illegal wildlife trade compiled by the SA Anti-Money-Laundering Integrated Task Force (Samlit), which was established in December 2019 as a public-private partnership between the Financial Intelligence Centre (FIC), the Prudential Authority (PA) and the financial services sector...
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