Article: NGO: Chinese Banks Must Stop Laundering Wildlife Traffickers’ Money

Article - Media, Publications

NGO: Chinese Banks Must Stop Laundering Wildlife Traffickers’ Money

DAVID KLEIN, 22 April 2021

Activists fighting against the illegal trade in endangered species of both plants and animals have called on Chinese banks to prevent illegal wildlife traffickers from exploiting their networks to launder money. Otherwise those banks will risk greater scrutiny and pressure from foreign governments.

TRAFFIC, a non-governmental organisation focusing on the global trade in wild animals and plants, released a report this month which found that the illegal wildlife trade generates between US$7 billion and $23 billion each year – as much as the illegal trafficking of narcotics, arms, and humans generate – and this cannot occur without financial crime and corruption. Continue reading “Article: NGO: Chinese Banks Must Stop Laundering Wildlife Traffickers’ Money”

Article: The Illegal Wildlife Trade and the Banking Sector in China

Article - Media, Publications

The Illegal Wildlife Trade and the Banking Sector in China

TRAFFIC, 12 April 2021

Cambridge, UK – 14 April 2021: Chinese banks must take action to prevent illegal wildlife traffickers from exploiting their networks to launder money says TRAFFIC. The non-governmental organisation, which works globally on trade in wild animals and plants in the context of both biodiversity conservation and sustainable development, is today releasing resources that indicate how Chinese banks are at risk of greater scrutiny and pressure from governments and institutional investors if they fail to act on the illegal trade of wildlife. Continue reading “Article: The Illegal Wildlife Trade and the Banking Sector in China”