FinCEN report highlights uptick in wildlife trafficking SARs

   Illicit proceeds from wildlife trafficking total between an estimated
   $7 and $23 billion per year, according to data cited by FinCEN. The
   illegal practice “involves the illicit trade of protected animals,
   animal parts, and derivatives thereof, including procurement,
   transport, and distribution, in violation of international or domestic
   law, and money laundering related to this activity,” the agency stated.

   FinCEN provided several reasons for highlighting the uptick in wildlife
   trafficking SARs. Perhaps most of note, wildlife trafficking has a
   “strong association with corruption and transnational criminal
   organizations,” two of the agency’s anti-money laundering and
   countering the financing of terrorism (AML/CFT) priorities [1]published
   in June.

   As a result, there is a need to “enhance reporting and analysis of
   related illicit financial flows,” FinCEN said. Wildlife trafficking
   also contributes to “biodiversity loss, damage to fragile ecosystems,
   and the increased likelihood of spreading of zoonotic diseases.”

   [2]https://www.complianceweek.com/risk-management/fincen-report-highlig
   hts-uptick-in-wildlife-trafficking-sars/31194.article#:~:text=Wildlife%
   20trafficking%20also%20contributes%20to,trafficked%20animal%20parts%2C%
   20like%20ivory.

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These whales are on the brink. Now comes climate change — and wind power.

   With [3]only about 300 left, the North Atlantic right whale ranks as
   one of the world’s [4]most endangered marine mammals. Nearly
   annihilated centuries ago by whalers, the slow-swimming species is said
   to have earned its name because it was the “right” whale to hunt.

   Old-fashioned harpoons have yielded to other threats. Humans are still
   killing right whales at [5]startlingly high numbers — but by accident.
   Waters free from whalers now brim with ships that strike them, and
   ropes that entangle them.

   The latest challenges come in a changing climate. Rising temperatures
   are driving them to new seas. And soon, dozens of offshore wind
   turbines —

   [6]Critical foraging area: Right whales spend their summers foraging in
   these waters. To protect the whales and their food sources, large boats
   are required to slow down.

   [7]Observed births of North Atlantic right whales have decreased in
   recent years: Because of entanglements and vessel strikes, more than 10
   percent of the right whale population has been killed or seriously
   injured since 2017.
   [8]https://www.washingtonpost.com/climate-environment/2022/04/21/right-
   whales-biden/

References

   1. https://www.complianceweek.com/risk-management/fincen-puts-financial-institutions-on-notice-with-first-aml/cft-priorities/30529.article
   2. https://www.complianceweek.com/risk-management/fincen-report-highlights-uptick-in-wildlife-trafficking-sars/31194.article#:~:text=Wildlife trafficking also contributes to,trafficked animal parts, like ivory
   3. https://www.andersoncabotcenterforoceanlife.org/blog/right-whale-population-declines-for-10th-straight-year/
   4. https://www.worldwildlife.org/species-categories/marine-animals/species/directory
   5. https://www.washingtonpost.com/world/the_americas/two-percent-of-the-worlds-north-atlantic-right-whales-have-died-in-the-last-two-months/2019/07/31/d3de7d1e-ae31-11e9-9411-a608f9d0c2d3_story.html?itid=lk_inline_manual_6
   6. https://drive.google.com/file/d/1ZJBjGKR7CY7FY91aYS2RHJ92m-czgrG8/view?usp=sharing
   7. https://drive.google.com/file/d/1o72_-FcUfRPRRNFE7aE84ucsvgXkq4GC/view?usp=sharing
   8. https://www.washingtonpost.com/climate-environment/2022/04/21/right-whales-biden/