A global conference on illegal wildlife trade is calling on governments to destroy the business models of smugglers. Banks, NGOs, scientists, conservationists and law enforcement experts from 80 countries are planning to launch a task force to disrupt the international flow of illegal funds from the trade. CGTN's Richard Bestic reports from London, where the meeting is taking place.

Just 40 years ago there were 1.3 million elephants in Africa. Today, scientists estimate just 415,000 have survived the poaching crisis that's pushing the species to the verge of extinction. Delegates at this conference say poaching is linked to organised crime on a massive trans-national scale. It's the fourth most profitable enterprise in the world, according to the UK's foreign secretary, generating up to 23 billion dollars annually. And its impact on humanity, as well as wildlife, is immense.

JEREMY HUNT UK FOREIGN SECRETARY "The same criminal networks that smuggle tusks and horns and hard wood also traffic in guns and drugs and people. They launder money, engage in modern slavery, fund conflict and thrive on corruption."

Hunt says eradicating demand is essential to wiping out the trade. But demand remains high. Last year, authorities in Hong Kong made the biggest seizure of ivory in history -- tusks from 700 elephants. Britain's Prince William, a leading wildlife campaigner, says global action has helped.

PRINCE WILLIAM DUKE OF CAMBRIDGE "Governments around the world, particularly China, the US and UK, have taken unprecedented steps to legislate against the ivory trade. The price of ivory has fallen by a staggering 75%."

The aim of the conference is to strengthen the fragile front-line of rangers on the ground with the muscle of world banking.

RICHARD BESTIC LONDON "More than 30 international banks are signed up to the idea, promising to train staff in how to identify and share intelligence on suspicious transactions. If it works, following the money could be the next big breakthrough. RB, CGTN, at the illegal wildlife trade conference, London."