US, South Africa form task force to combat wildlife trafficking: Yellen

Speaking at the Dinokeng Game Reserve outside Pretoria, Yellen told South African officials the new task force aims to boost information sharing between the two countries’ financial intelligence units and to strengthen controls to combat money laundering and terrorist financing.

The move comes amid SA media reports that the Paris-based Financial Action Task Force , which sets standards on combating money laundering and wildlife trafficking, could add SA to its grey list when it meets in February 2023. Grey-listed countries are subject to greater monitoring by the FATF on concern they are at higher risk for money laundering and terrorist financing.

Yellen said the US Treasury already worked to provide information on wildlife trafficking to law enforcement partners, and had also worked alongside South Africa with FATF to identify indicators associated with money laundering and wildlife trafficking.

Source: News Formal (newsformal.com)

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