On 26 October, the Financial Transparency Coalition published this report saying that Africa concentrates 48.9% of identified industrial and semi-industrial vessels involved in illegal, unreported, and unregulated (IUU) fishing, 40% in West Africa alone which has become a global epicentre for these activities. It is said to be the most extensive analysis of IUU fishing cases to date, and warns that developing countries lose billions of dollars in illicit money flows directly linked to this practice every year – up to $11.49 billion for Africa, and $2 billion for Argentina and $4 billion for Indonesia. The study also reveals that the top 10 companies involved in IUU fishing concentrate nearly one-quarter of all reported vessels: 8 from China, 1 from Colombia and another from Spain which received millions of dollars in EU and other subsidies. The report warns that almost no countries require information about owners when registering vessels or requesting fishing licences, meaning that those ultimately responsible for these activities are not detected and punished, resulting in fines often being applied to the vessel captains and crew.
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