LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

August 27, 2024

Will a New Initiative Succeed in Fighting Illicit Finance?

U.S. Treasury Secretary Janet Yellen last month visited Brazil to launch a new U.S. initiative with South American governments to fight illicit finance in the Amazon. // Photo: @SecYellen via X.

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Julia Yansura, program director for environmental crime and illicit finance at the FACT Coalition: “Secretary Yellen’s announcement sends a strong signal that the U.S. Treasury is taking environmental crime seriously, as well it should. Studies show that environmental crime is one of the largest and fastest growing illicit economies in the world, and in fact represents the single largest source of funding for non-state armed actors, including terrorist organizations. Over the past few years, there have been indications that the U.S. Treasury is looking more closely at this issue, such as a slight uptick in environmentally related sanctions as well as the creation of a task force with South Africa focused on wildlife trafficking. However, the newly announced Amazon Region Initiative is a big, ambitious step forward; it involves…”

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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