14. February 2019

Wolfsberg Group endorses Financial Taskforce declaration against the illegal wildlife trade

Mombasa city street with giant tusks

The Basel Institute is delighted about and welcomes the Wolfsberg Group's endorsement of the United for Wildlife Financial Taskforce Mansion House Declaration. This is a significant step in gaining the active support of the financial sector in combating the multibillion-dollar illegal wildlife trade.

The Basel Institute is the implementing partner of the intelligence-sharing mechanism of the United for Wildlife Financial Taskforce, a groundbreaking initiative of the Royal Foundation.

It was launched on 10 October 2018 by The Duke of Cambridge, who is President of United for Wildlife. The Duke worked with Lord Hague of Richmond, the UK’s former foreign secretary, to convene the financial sector to join the fight against the illegal wildlife trade. Chaired by Lord Hague, the Financial Taskforce currently comprises over 20 leading global financial institutions dedicated to taking intelligence-led collective action against wildlife trafficking.

The Wolfsberg Group, which the Basel Institute helped establish in 2000, is one of the first Collective Action initiatives against financial crime. It brings together 13 global banks that together aim to develop frameworks and guidance for the management of financial crime risks. 

The Wolfberg Group's endorsement of the Mansion House Declaration and active participation in the United for Wildlife Financial Taskforce is critical to ensuring that the “follow the money” approach to tackling wildlife trafficking goes beyond policy papers and translates into effective action. 

We look forward to working in this endeavour with Wolfsberg Group banks, and many other banks who have already endorsed the Declaration or will do so in the near future.