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Interpol Targets Criminals Who Subvert Carbon Markets

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  • David Hoffman
    Interpol Targets Criminals Who Subvert Carbon Markets http://ens-newswire.com/2013/08/12/interpol-targets-criminals-who-subvert-carbon-markets/ { fastest
    Message 1 of 1 , Aug 18, 2013
      Interpol Targets Criminals Who Subvert Carbon Markets

      http://ens-newswire.com/2013/08/12/interpol-targets-criminals-who-subvert-carbon-markets/

      {"fastest growing commodities market, with its current value estimated by
      the World Bank at around US$176 billion"}

      LYON, France, August 12, 2013 (ENS) – Securities fraud, insider trading,
      embezzlement, money laundering and cybercrime – the intangible nature of
      the global carbon trading markets puts them at risk for exploitation by
      criminal networks, according to a new law enforcement guide produced by
      Interpol.

      The world’s largest international police organization has just issued
      “The Interpol Guide to Carbon Trading Crime,” {Hot Link To .Pdf}
      which examines the areas within the industry that could be manipulated by
      criminals. It assesses the current vulnerabilities of the carbon market and
      provides information to support national authorities in establishing
      adequate policing measures.

      Carbon trading is the world’s fastest growing commodities market, with its
      current value estimated by the World Bank at around US$176 billion. There
      are no physical commodities, instead the market trades credits for
      offsetting the emission of the greenhouse gas carbon dioxide with the aim
      of limiting global climate change. Interpol says it is this unquantifiable
      market combined with the large amounts of money invested and a lack of
      oversight that makes it vulnerable to criminals.

      “It is imperative that the carbon trading markets remain secure from fraud,
      not just to protect financial investment, but also because the global
      environment depends upon it,” said Andrew Lauterback, senior criminal
      enforcement counsel at the U.S. Environmental Protection Agency and chair
      of the Interpol Environmental Crime Committee.

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