Laeeq Razzak Janjua, Nitu Maurya
Illegal, unreported, and unregulated (IUU) fishing poses a substantial risk to marine ecosystems, biodiversity, and global economic stability, especially in areas reliant on fisheries. Intricate financial networks often enable the unlawful monetary transfers linked to illegal, unreported, and unregulated (IUU) fishing, while inadequately supervised banking institutions obscure the origins of the profits. This article examines the critical role of financial institutions and banks in addressing IUU fishing by detecting dubious transactions indicative of money laundering, corruption, and other financial offences. This research use game theory to provide a mathematical framework that simulates the strategic interactions of primary parties, such as financial institutions, regulators, illicit fishing enterprises, and enforcement organisations. The results highlight the need of collaboration between financial institutions and regulatory agencies in overseeing, identifying, and mitigating financial crimes associated with environmental degradation. The use of game theory underscores the potential for improved financial regulation and collective accountability to markedly diminish illicit fishing practices and foster environmental sustainability.
Aceves‐Bueno, E., Read, A. J., & Cisneros‐Mata, M. A. (2021). Illegal fisheries, environmental crime, and the conservation of marine resources. Conservation Biology, 35(4), 1120-1129.
Agnew, J. (2000). From the political economy of regions to regional political economy. Progress in Human Geography, 24(1), 101-110.
Bennett, N. J., Alava, J. J., Ferguson, C. E., Blythe, J., Morgera, E., Boyd, D., & Côté, I. M. (2022). Environmental Justice in the Ocean. Institute for the Oceans and Fisheries, University of British Colombia, 39.
Carneiro, M., & Martins, R. (2022). Destructive fishing practices and their impact on the marine ecosystem. In Life Below Water (pp. 295-304). Cham: Springer International Publishing.
Chen, X., Xu, Q., & Li, L. (2023). Illegal, unreported, and unregulated fishing governance in disputed maritime areas: Reflections on the international legal obligations of states. Fishes, 8(1), 36.
Du, Y., Sun, J., & Zhang, G. (2021, October). The impact of overfishing on environmental resources and the evaluation of current policies and future guideline. In 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021) (pp. 1120-1124). Atlantis Press.
Elliott, L. (2022). Transnational environmental crime and development. In The Routledge Handbook of Global Development (pp. 233-244). Routledge.
Harris, H. (2024). Financing Environmental Crime: Financial Sector Complicity in Global Deforestation and Opportunities for Regulatory Intervention. In Financial Crime and the Law: Identifying and Mitigating Risks (pp. 43-69). Cham: Springer Nature Switzerland.
Lindley, J. (2022). Food security amidst crime: harm of illegal fishing and fish fraud on sustainable oceans. In The Palgrave handbook of climate resilient societies (pp. 733-751). Cham: Springer International Publishing.
Mniwasa, E. E. (2022). Institutionalizing the fight against money laundering in Tanzania: the potential, limitations and challenges. Journal of Money Laundering Control, 25(4), 792-832.
Oberle, C. S., & OBERLE, C. S. (2022). Greening White-Collar Crime: Transforming Anti-Money Laundering Enforcement into an Instrument Against Environmental Crime.
Pauly, D. (2013). Beyond duplicity and ignorance in global fisheries. WIT Transactions on State-of-the-art in Science and Engineering, 64.
Rosello, M. (2020). Illegal, unreported and unregulated (IUU) fishing as a maritime security concern. Global Challenges in Maritime Security: An Introduction, 33-47.
Sumaila, U. R., & Tai, T. C. (2020). End overfishing and increase the resilience of the ocean to climate change. Frontiers in Marine Science, 7, 523.
Sun, Y., Sun, Z., Zhang, Y., & Qiao, Q. (2024). How can governments and fishermen collaborate to participate in a fishing ban for ecological restoration?. Journal of Environmental Management, 360, 120958.
Yuliantiningsih, A., Hartiwiningsih, Suherman, A. M., & Latifah, E. (2022). From illegal, unreported and unregulated fishing to transnational organised crime in fishery from an Indonesian perspective. ASEAN International Law, 481-502.