SEIZURES OF POACHED GIANT CLAMS RISE AND LINKS TO IVORY TRADE SURFACE

On 15 October, Mongabay reported that new report released by the Wildlife Justice Commission identifies the giant clamshell trade as a “cause for concern”.  China and Japan are noted as potential markets of concern in the giant clamshell trade. However, little is known about the giant clamshell trade, which has prompted experts to call for more investigations into the issue.  In the last 50 years, there has been a considerable increase in the illegal poaching of clams for luxury food, the aquarium trade, and the ornamental carving industry

https://news.mongabay.com/2021/10/as-seizures-of-poached-giant-clams-rise-links-to-ivory-trade-surface/

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CROSS-BORDER PAYMENTS – SURVEY RESULTS ON IMPLEMENTATION OF THE FATF STANDARDS

On 22 October, FATF published a report saying that it had initiated an industry survey in consultation with the Basel Committee on Banking Supervision (BCBS) to identify areas where divergent AML/CFT rules or their implementation cause friction for cross-border payments.  The survey results highlight, among others, that lack of risk-based approach and inconsistent implementation of the AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency.  Inconsistent national approaches also create obstacles in identifying and verifying customer and beneficial owners, effective screening for targeted financial sanctions, sharing of customer and transaction information where needed, and establishing and maintaining correspondent banking relationships

https://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/Cross-Border-Payments-Survey-Results.pdf

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