Given the vast dimensions of the multibillion-dollar illegal wildlife trade (IWT), it may be surprising that until recently, global efforts to tackle IWT came mainly from the conservation sector. This has typically consisted of numerous donor-funded efforts to catch poachers and raise public awareness of the plight of endangered species.

Valuable as those efforts are, they do little to impact the organised crime networks, corruption and illicit financial flows that allow the lucrative illegal trade in wildlife products to continue.

In collaboration with the Basel Institute on Governance, the Competence Centre for Arbitration and Crime at the University of Basel is planning a high-level workshop that brings together arbitrators, lawyers, forensics, academics, students and representatives of NGOs from around the world.

Basel Institute senior advisor and former board member Hans-Peter Bauer presented at the Baltic AML Forum on 2 October on the topic of Country Risk Assessment -  A Difficult Task. 

The Forum was opened by the Lithuanian Minister of Finance and attended by 150 participants, who were mainly compliance officers and tech experts from Baltic-region banks, FinTech companies and cryptocurrency ventures.

Falling rankings in the Basel AML Index, released today, show how many countries’ AML systems are a weak defence against today’s money laundering risks.

Ineffective anti-money laundering and counter financing of terrorism (AML/CFT) systems and lack of transparency are leaving the door open to increasingly sophisticated money laundering schemes.

A high-profile asset recovery case in Peru is putting the country’s new legislation on non-conviction-based confiscation (Extinción de Dominio) to the test.

The new Extinción de Dominio legislation, which roughly translates as "extinction of possession", allows stolen assets to be recovered even if the asset holder cannot formally be convicted of a crime. Introduced in August 2018, it enables the recovery of assets from foreign bank accounts whose owners, for example, are now dead or have absconded.