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FATF report flags wildlife trade

Part of: GS Prelims and Mains II and III – Indian and its neighbours; International Relations; Concerns related to Wildlife and Environment

In news:

Financial Action Task Force (FATF) releases its first global report on the illegal wildlife trade.

It described illegal wildlife trade as a “global threat”, as it also has links with other organised crimes such as modern slavery, drug trafficking and arms trade.

According to FATF’s “Money Laundering and the Illegal Wildlife Trade” report

Illegal trade generates revenues of up to $23 billion a year.
Financial investigation is key to dismantling the syndicates involved.
Curbing illegal wildlife trade can in turn significantly impact the associated criminal activities.
The study has highlighted the growing role of online marketplaces and mobile and social media-based payments to facilitate illegal movements.

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