“MONEY LAUNDERING AND THE ILLEGAL WILDLIFE TRADE” REPORT

Key findings:

• Illegal wildlife trade is a “global threat”, which also has links with other organised crimes such as modern slavery, drug trafficking and arms trade.
  
  
• The illegal trade is estimated to generate revenues of up to $23 billion a year.
  
  
• During the study, 22 of the 45 respondent countries considered themselves as source for wildlife crime, 18 as transit countries and 14 as destination countries. All but nine reported to be impacted by the risks from financial flows linked to the trade.
  
  
• Criminals are frequently misusing the legitimate wildlife trade, as well as other import-export type businesses, as a front to move and hide illegal proceeds from wildlife crimes.
  
  
• Jurisdictions should consider implementing the good practices. The report noted that in 2012, India amended the Prevention of Money Laundering Act removing a value threshold — of ₹30 lakh and above — that was earlier applicable to the wildlife trade predicates.