Green crime – wildlife and environmental crime – is estimated to be worth up to $258 billion a year and is one of the top five most lucrative illicit activities after illegal drugs, human and weapons trafficking.
The increased focus of global regulatory bodies on wildlife and environmental crime should be a concern for local compliance departments. The consequences of green crime are far-reaching and are gaining the attention of law enforcement agencies and regulators.
The European Union (EU) has included environmental crime as a predicate offence under the 6th EU Anti-Money Laundering Directive (6AMLD), and the new Financial Action Task Force’s (FATF) priorities for 2020 will focus on the illegal wildlife trade.
The European Commission’s plan to tackle illegal wildlife trade includes proposals to tighten rules in 2020 around EU ivory trade and to introduce rules for mandatory corporate environmental and human rights due diligence.
What is green crime?
Green crime involves illegal activity that not only directly harms the environment but threatens wildlife, impacts business supply chains, and poses a threat to security and stability around the world. In addition to environmental crime and wildlife trafficking, green crime also includes the contravention of regulations designed to prevent harm to the environment. The COVID-19 pandemic is a watershed moment; shining the spotlight on the global wildlife trade as a breeding ground for disease and resulting in viruses spreading to humans.
Fight green crime with access to better data, the right technology and collaboration
Our technology and data play a crucial role in helping to detect green crime networks, including unravelling complex ownership structures, identifying network connections, and enabling the screening of entities across the globe in line with regulations across the globe.
We have partnered with several organizations to accelerate the development of powerful tools to help disrupt criminal networks. We provide data relating to ownership hierarchies across more than 200 countries, revealing more than 100 million connections and screen the associated entities for potential risks, including those relating to green crime.
Our World-Check research analysts based across the globe specialize in trafficking-related research, including illegal wildlife trafficking. Our human intelligence is also critically important to help you evaluate the environmental and social impact of any potential investment, and when conducting enhanced due diligence checks on higher-risk suppliers further down the supply chain.
Contact us to find out how you can mitigate your exposure to green crime risk with our industry-leading screening technology, supply chain risk tools, and environmental, social and governance (ESG) data.
Why we are trusted to help tackle green crime
Various human intelligence sources, leveraging structured World-Check Risk Intelligence data accredited with ISAE 3000 standard.
With local people in all major markets, we understand the local nuances and details, even where information may be less reliable.
Refinitiv is a founding member of the Global Coalition to Fight Financial Crime alongside the World Economic Forum and Europol.
Green crime will inevitably become a growing focus for compliance and risk functions. Technology and data have a crucial role to play in disrupting green crime networks, but the problem also requires a concerted effort to bring big companies, regulators, politicians, and charities together in order to meet the challenge.
Learn more with our resources on green crime
The rise of green crime | Refinitiv, Davos 2020
Is it time to re-calibrate the current legislative and enforcement regimes? Can we bring large companies, regulators, politicians, and charities together in order to meet the challenge? Find out more in this panel discussion at Davos 2020.
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