FIC Report: Financial Flows in Succulent Poaching

Posted 22 December 2025 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has released a comprehensive report examining the illicit financial flows linked to the poaching of rare and indigenous succulents in South Africa.

In terms of its mandate under the Financial Intelligence Centre Act, No. 38 of 2001, the FIC has published the report “Poaching of South Africa’s succulents: Associated financial flows.” The document highlights how participants in the succulent poaching value chain utilize the formal financial system to legitimize illegal earnings, identifying this as a critical vulnerability in their operations.

The report details a significant escalation in environmental crime, estimating that succulent poaching has increased by more than 250% annually. In the three-year period leading up to 2023, more than 1.5 million plants were poached. The species targeted are often rare and endemic to specific desert habitats, making the trade a threat to both biodiversity and socio-economic stability.

Key Findings and Compliance Indicators

The FIC analysis identifies various role players involved in the illicit trade, including harvesters, transporters, couriers, export authorities, and international buyers. To assist Accountable Institutions in detecting suspicious activity, the report provides:

  • Case studies of financial flows linked to environmental crimes;
  • Specific red-flag indicators for financial institutions and law enforcement;
  • Guidance on disrupting the profitability of the succulent poaching value chain; and
  • Analysis of the methods used by syndicates to move funds across borders.

Click here to download the Poaching of South Africa’s succulents: Associated financial flows report.

What this means for you, your business, or your clients

  • For yourself: You must familiarize yourself with the specific red-flag indicators for environmental crime to ensure accurate identification of suspicious transactions as required under the Financial Intelligence Centre Act, No. 38 of 2001.
  • For your business: Accountable Institutions should review and update their Risk Management and Compliance Programme (RMCP) to incorporate the FIC’s findings on succulent poaching as a predicate offense for money laundering.
  • For your clients: Clients operating in the logistics, nursery, or international export sectors should be advised to implement enhanced due diligence (EDD) to mitigate the risk of being inadvertently involved in the illicit plant trade.

Originally published at https://accountingacademy.co.za/news/read/fic-report-on-plant-poaching

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