Illegal, unreported, and unregulated (IUU) fishing endangers marine ecosystems and poses a growing threat to global food security. Modern financial technologies (fintech) offer promising solutions to create transparency and enforce existing regulations more effectively. In particular, Blockchain technologies enable tamper-proof traceability along the supply chain—from catch to consumer. Digital payment systems make it more challenging to conceal illegal financial flows and enable more precise monitoring of trade activities. Data analysis and AI-based algorithms help to uncover patterns of illegal fishing and to identify future violations at an early stage using forecasting models. This study highlights the potential of fintech innovations in the fight against IUU fishing. It examines the associated challenges regarding technological implementation, regulatory frameworks, and economic viability. The aim is to develop a comprehensive understanding of how financial technologies can support sustainable fisheries management and to use this to derive targeted recommendations for policymakers, industry, and international organizations.

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Fintech Innovations to Combat Illegal Fishing

  • Silvio Andrae

摘要

Illegal, unreported, and unregulated (IUU) fishing endangers marine ecosystems and poses a growing threat to global food security. Modern financial technologies (fintech) offer promising solutions to create transparency and enforce existing regulations more effectively. In particular, Blockchain technologies enable tamper-proof traceability along the supply chain—from catch to consumer. Digital payment systems make it more challenging to conceal illegal financial flows and enable more precise monitoring of trade activities. Data analysis and AI-based algorithms help to uncover patterns of illegal fishing and to identify future violations at an early stage using forecasting models. This study highlights the potential of fintech innovations in the fight against IUU fishing. It examines the associated challenges regarding technological implementation, regulatory frameworks, and economic viability. The aim is to develop a comprehensive understanding of how financial technologies can support sustainable fisheries management and to use this to derive targeted recommendations for policymakers, industry, and international organizations.