‘To protect wildlife populations, we must follow the money,’ says US Treasury Secretary Janet Yellen
ISTANBUL
The US and South Africa formed a new task force to fight the financing of wildlife trafficking, the American Treasury Department announced Wednesday.
The task force will work to combat illicit finance linked to illegal wildlife trade in three key areas: sharing of financial red flags and indicators related to wildlife trafficking cases, sharing information between financial intelligence units of both countries, and bringing together government authorities to fight money laundering related to drug and wildlife trafficking.
“To protect wildlife populations from further poaching and disrupt the associated illicit trade, we must ‘follow the money’ in the same way we do with other serious crimes,” Treasury Secretary Janet Yellen said in a statement. “This includes identifying and seizing the proceeds generated from the illegal wildlife trade and impeding the money laundering and cross-border transactions of the transnational criminal organizations often involved in—and who benefit from—corruption.”
The Treasury Department said the US, alongside South Africa, has also worked with the Financial Action Task Force, the international standard-setting body on combating money laundering and other illicit finance, to identify indicators associated with money laundering and wildlife trafficking.
