Follow the money: how environmental crime is handled by anti-money laundering systems in Brazil, Colombia, and Peru
Date of Publication
1-1-2023 12:00 AM
End Date
8-8-2023 12:00 AM
Security Theme
Illegal Mining
Keywords
Anti-money laundering, Environmental crime, Global community, Illicit economy, Drug trafficking, Smuggling, illegal mining
Description
The global community needs to enhance the synergy between anti-money laundering and environmental crime legal frameworks to combat these crimes effectively, as environmental crime has become the third most lucrative illicit economy worldwide, following drug trafficking and smuggling. Many anti-money laundering regulations primarily focus on safeguarding the formal financial system from drug and weapons trafficking and terrorist financing, often neglecting currency smuggling and the international trade of illicit forest commodities. This issue is particularly critical as the illegal plunder of natural resources in the Amazon region worsens the climate crisis. Countries should shift their focus and build capacity to combat the laundering of proceeds from environmental crime in the Amazon.
Follow the money: how environmental crime is handled by anti-money laundering systems in Brazil, Colombia, and Peru
The global community needs to enhance the synergy between anti-money laundering and environmental crime legal frameworks to combat these crimes effectively, as environmental crime has become the third most lucrative illicit economy worldwide, following drug trafficking and smuggling. Many anti-money laundering regulations primarily focus on safeguarding the formal financial system from drug and weapons trafficking and terrorist financing, often neglecting currency smuggling and the international trade of illicit forest commodities. This issue is particularly critical as the illegal plunder of natural resources in the Amazon region worsens the climate crisis. Countries should shift their focus and build capacity to combat the laundering of proceeds from environmental crime in the Amazon.
