Janet Yellen Launches Anti-Illicit Finance Initiative in Amazon Basin

U.S. Treasury Secretary Janet Yellen announced a new initiative to combat illicit finance fueling environmental crimes in the Amazon. The collaboration with Amazon basin governments aims to improve training and cooperation among various agencies to cut off criminal organizations from the dollar-based financial system.

U.S. Treasury Secretary Janet Yellen has unveiled a new initiative to combat illicit finance driving environmental crimes in the Amazon Basin. The effort involves partnering with governments from Brazil, Colombia, Ecuador, Guyana, Peru, and Suriname to disrupt the illegal activities that harm the ecosystem.

Yellen made the announcement in Belem, Brazil, indicating that the initiative will strengthen cooperation among finance ministries and law enforcement agencies to detect and dismantle illicit finance networks. The plan also includes potential sanctions against criminal groups and enhanced training to track financial transactions.

The initiative aims to safeguard the region's biodiversity and economic stability while maintaining the integrity of the international financial system. A regional meeting will be held in the coming months to establish priorities, accompanied by specialized training sessions hosted by the U.S. Treasury.

(With inputs from agencies.)