14th February 2025
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14th February 2025

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Hong Kong summit targets money laundering and organised crime

Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer
Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer
Hong Kong summit targets money laundering and organised crime

Tulani Ngwenya

HONG KONG, China – The International Forum on Combating Money Laundering and Transnational Organised Crimes commenced today in Hong Kong SAR, gathering esteemed delegates and experts to address critical issues at the intersection of global security and environmental conservation.

Under the theme “Criminal Networks, Trade Dynamics, and Beyond,” the forum’s opening ceremony featured a keynote address by Ivonne Higuero, Secretary-General of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). Secretary-General Higuero highlighted the pivotal role of customs administrations in combating wildlife crime, pointing out their dual function in facilitating legal trade and intercepting illegal activities.

In her address, Secretary-General Higuero underscored the alarming scale of wildlife trafficking, noting that thousands of species covered by CITES continue to be affected. She stressed that these activities not only threaten biodiversity but also fuel corruption, destabilise economies, and pose significant security risks globally.

“Wildlife crime remains a formidable challenge,” Secretary-General Higuero remarked, citing the illicit trade’s staggering profitability, estimated by the Financial Action Task Force (FATF) to generate between $110 to $281 billion annually. She called for intensified efforts to disrupt financial networks associated with wildlife trafficking, urging greater integration of financial crime investigations into broader law enforcement initiatives.

The forum also highlighted recent international resolutions and frameworks aimed at combatting wildlife crime, including the United Nations’ resolutions and the Kunming-Montreal Global Biodiversity Framework. Secretary-General Higuero commended collaborative efforts such as Operation Thunder 2023 and Operation Mekong Dragon, which yielded significant seizures and arrests across various regions.

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Acknowledging the progress made, Secretary-General Higuero indicated the need for continued global cooperation and strengthened measures to deter criminals from profiting from environmental crimes. She praised initiatives like the International Consortium on Combating Wildlife Crime (ICCWC) for their role in training law enforcement and enhancing cross-border cooperation.

In conclusion, Secretary-General Higuero expressed optimism that the discussions and collaborations at the forum would advance the shared mission of combating transnational crimes effectively.

The forum, hosted by the Hong Kong Customs and Excise Department and the World Customs Organisation, will continue to facilitate dialogues and strategies over the next two days to address the multifaceted challenges posed by transnational organised crime and illicit financial flows.

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