Regulatory Alerts2020-07-09
private Sector And Iwt
The Financial Action Task Force (FATF) highlights the importance of the private sector's role in combating money laundering related to illegal wildlife trade, which generates billions annually. This report emphasizes how traffickers exploit financial system weaknesses to hide illicit proceeds, further damaging financial integrity. Financial and non-financial institutions are urged to enhance due diligence, report suspicious activities, and collaborate with public sectors to disrupt financial flows linked to this crime.