Spotting red flags for green crime

Environmental crime prevention is still in its infancy and business that is tainted by violations may be extremely difficult for financial institutions to spot.Maria Evstropovahighlights indicators which should prompt further scrutiny, along with risk management precautions.

Maria Evstropovais a director in Kroll's Financial Services Compliance and Regulation practice,based in London. Maria has over 16 years' experience in the financial services industry, specialising in anti-money laundering and financial crime. Contact her onmaria.evstropova@kroll.com.

Environmental crimes are rarely spoken of within the scope of financial crimes, despite the effects being just as damaging as more commonly-recognised forms such as fraud. Illegal logging/trade, trafficking of protected species of animal and plant wildlife, smuggling precious metals and even waste management are just a few examples of 'green crimes' that firms need to be aware of and, more importantly, remain compliant with.