Environmental crimes pose unique illicit finance challenges and require specific solutions
Environmental crime is one of the world's largest illicit economies. It is growing over five percent a year - three times faster than the world's GDP - according to Interpol. The proceeds from environmental crimes such as illegal logging, illegal mining and wildlife trafficking reach up to USD$281 billion a year internationally. These funds go into the pockets of criminal groups, many of whom are also involved in other illicit activities including drug trafficking, human trafficking, and corruption. Environmental crime also causes significant societal harm, depleting or contaminating local resources that, if managed responsibly, could sustain communities for generations. The World Bank has estimated that the true, societal costs of environmental crime amount to USD$1 trillion to USD$2 trillion per year internationally. Given the size of this illicit economy, governments have understandably tried to address environmental crime through existing frameworks on anti-corruption, anti-money laundering, and counter-terrorism financing (AML/CFT).
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