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FATF to treat illegal wildlife trade as financial crime
The FATF has announced that FATF President Xiangmin Liu hosted one of the first regional meetings on tackling the illegal wildlife trade as a financial crime, in Beijing, China. FATF report this is the first time that public and private sector representatives, including anti-money laundering experts and wildlife experts, have come together to share experiences about detecting and combating the financial flows linked to the illegal wildlife trade.
During the next year, the FATF will work with the public and private sector, including the People’s Bank of China, the United for Wildlife Financial Taskforce and The Royal Foundation, to develop a report on good practices that will assist in financial investigations of the illegal wildlife trade. The report will highlight how public-private partnerships and international cooperation can help to identify and disrupt the illicit proceeds of this devastating criminal activity.