Co-operative bank has entered into an information-sharing pact with the United for Wildlife’s (UfW) financial taskforce to curtail financial flows that abet illegal wildlife trade.
The bank joins HSBC, Royal Bank of Scotland, Bank of America and JPMorgan among others who share financial intelligence helping detect and thereby deter use of its platforms to facilitate the dirty deals.
Cooperative Bank boss Gideon Muriuki said the lender will expose financial transactions related to illegal trade in wildlife activities.
He spoke after signing the partnership with UfW financial taskforce.
“The signing up means the bank has now joined the UfW financial taskforce committing to fight the illegal trafficking in wildlife, by way of building illegal wildlife trade into existing financial crime compliance programs. Co-op Bank also commits to working with like-minded lenders, share good practices and support one another in fighting IWT,” Muriuki stated.
The taskforce chairman Lord Hague of Richmond pledged support to the bank’s commitment saying this will improve detection and disruption of IWT thereby discouraging poaching, which continues to deplete populations of elephants and rhinos.
Muriuki said the bank championed wildlife protection through its cards emblazoned with the ‘elephant in your wallet’ motto and the Jumbo Junior savings account’s ‘elebank’-shaped savings box, a marketing strategy that resonated with its clientele.