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Green Crime: Re-Thinking How Financial Crime Strategies Apply to Environmental Crime

In this briefing paper, we explore the increasing threat of
environmental crime and the importance of including
environmental crime typologies within compliance programs.

    Summary

    On September 1, 2021, ACAMS hosted a webinar titled “Green Crimes: Re-Thinking How Financial Crime Strategies Apply to Environmental Crime”, with Juhani Grossman of the Basel Institute on Governance, Ailsa Hart of the Financial Action Task Force, and Joseph Mari, CAMS, of Scotiabank.

     

    This briefing paper is designed as a follow-up to the webinar, and should be reviewed in conjunction with viewing the webinar and downloading the accompanying slides.

    Key Findings

    The briefing paper further explores the key themes of the webinar, including:

    Defining environmental crime and “green crimes”
    The implications of environmental crime for the private sector and civil society
    Exploring FATF guidance and expectations for dealing with environmental crime issues

    In addition, the paper includes a number of case studies and resources for further reading on this issue.

    Intended Audience

    This paper is intended for anyone working in financial crime prevention, including:

    • Legal counsel
    • Compliance personnel
    • Transaction monitoring specialists

    Industry Sectors

    Industry sectors affected by the issues raised in this paper include:

    • Financial institutions, including FinTech and money services businesses (MSBs)
    • Gem and precious metal dealers
    • Law and accountancy firms
    • Timber and forestry companies
    • Mining and extractive companies
    • Logistics and transportation companies