Austrac has released a financial crime guide containing financial indicators and behaviours that can be used by financial institutions to review profiling and transaction monitoring programs to target, identify and stop financial transactions associated with illegal wildlife trafficking.
It is illegal for individuals or businesses in Australia to trade Australian native animals to overseas markets.
Austrac says that in Australia, native reptiles are overwhelmingly the most trafficked Australian native live animal. International black-market prices for Australian reptiles can be more than 28 times the domestic price of native lizards, selling for AUD$1000 – $20,000 when illegally trafficked compared to $100 – $400 when sold legally.
Financial indicators include:
• Amounts paid for animals can vary, depending on the species and the number of animals purchased.
• Demand can be found worldwide, however, a significant proportion of demand is found in China, Hong Kong, and Taiwan.
• International and domestic payment details may reference the animal species purchased and can be used for generating profiles and monitoring financial activity.
• International and domestic payment details may reference the role of the individual being paid.
• Payments for animal-related goods and services, such as equipment and freight.
• Payments can be made to individuals, pet/animal-related businesses, or to family members/associates.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
