With a strategy of cutting off finances, the UK government has put together a task force – comprised of leading global banks and regulatory bodies – to control the global illegal wildlife trade.

The task force will launch investigations into money laundering, seize assets and train law enforcement in East and Southern African countries that are grappling with large-scale illegal wildlife trade, including Kenya, Tanzania, Uganda, Botswana and Côte d'Ivoire.

Around 30 global banks and financial organizations including Standard Chartered, HSBC and RBS, along with regulatory bodies including TRAFFIC, a wildlife monitor and Royal United Services Institute (RUSI) will work together to identify cash flow related to the illegal wildlife trade. 

The project, the first of its kind globally, is “a new joint initiative with the Foreign Office, to target wildlife traffickers and criminal gangs, tackling the global scourge of the illegal wildlife trade,” Penny Mordaunt, International Development Secretary, UK said. 

“UK aid is directly supporting efforts to recover illegal assets, disrupt organized crime networks and stop the flow of dirty money,” she added. 

The initiative will focus on increasing the use of sanctions like freezing and seizing assets and visa bans.  It will also intensify investigations into money laundering and tax evasion to disrupt criminal networks profiting from wildlife trade.  

According to Interpol, the illegal trade in wildlife is worth up to 20 billion US dollars annually. African countries are facing one of worst consequences of the trade with approximately 35,000 African elephants poached each year for ivory.

The primary mission would be to choke the ability of poachers and traders to move money, an essential component of stopping the trade, the UK government press statement said. 

Experts underlined that gangs trafficking wildlife products are also likely to be involved in moving other illegal goods, like drugs and weapons. 

“We need to tackle the corruption which allows the trade to flourish, with cross-border investigations which lead to successful prosecutions,” he said. 

The illegal wildlife trade is driving endangered species to the brink of extinction and robbing communities around the world of vital income, he added.  

The Department for International Development (DFID) is providing a fund of around four million US dollars, while the Foreign and Commonwealth Office (FCO) is contributing 0.65 million US dollars to the initiative.

(Top Image: Myanmar forest rangers stand behind elephant tusks ahead of a ceremony to destroy confiscated wildlife parts in Naypyidaw on October 4, 2018. /VCG Photo)