The U.S. Treasury Department and South Africa’s National Treasury on Wednesday agreed to form a task force to combat illicit finance linked to the illegal wildlife trade, U.S. Treasury Secretary Janet Yellen said.
A vulture sits on a tree as the sun rises at the iconic Kruger National Park, in Skukuza, Mpumalanga Province, South Africa, February 10, 2022. REUTERS/Siphiwe Sibeko/File PhotoHAMMANSKRAAL, South Africa, Jan 25 - The U.S. Treasury Department and South Africa's National Treasury on Wednesday agreed to form a task force to "follow the money" and step up efforts to halt illegal trade in wildlife, U.S. Treasury Secretary Janet Yellen said.
Conservation Strategy Fund ranks illegal wildlife trafficking as the world's fourth-largest internationally-organized crime, with annual revenues of $7 billion to $23 billion. "Through closer collaboration to target illicit proceeds linked to wildlife trafficking, as well as overlapping criminal activity like corruption, fraud, and drug trafficking, we are taking a step in the right direction today," Yellen said after touring the game preserve, which has suffered from poaching of wild animals, including rhinoceros, in the past.
This included identifying and seizing the proceeds generated from the illegal wildlife trade and impeding the money laundering and cross-border transactions of transnational criminal organisations often involved in corruption, she said.
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