Sunday, August 04, 2013
INTERPOL: Carbon Market Vulnerable to Criminal Manipulation
CARBON CRIMES: Embezzlers and fraudsters are increasingly targeting emissions trading. |
MEDIA RELEASE FROM INTERPOL
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 INTERPOL Guide to Carbon Trading Crime examines the areas within the industry which have the potential to be manipulated by criminals, through securities fraud, insider trading, embezzlement, money laundering and cybercrime. It also 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 $176 billion. Differing from traditional markets in that there are no physical commodities, only "credits" for offsetting the output of carbon dioxide, it is this unquantifiable market combined with the large amounts of money invested and a lack of oversight which make it vulnerable to criminal activity.
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