Global illegal, unreported and unregulated (IUU) fishing is one of the most serious threats facing the ocean, with IUU catches valued at billions of dollars every year. Canada is not immune: our economy is losing up to $93.8 million in tax revenue each year due to the illicit seafood product trade, and honest Canadian fishers are missing out on up to $379 million in lost revenue.
Without traceability, an endangered species of fish caught by modern slaves on a vessel fishing illegally can make its way onto Canadian supermarket shelves with no way for consumers to know its true origin. Canadians deserve to feel confident that their seafood is safe, honestly labelled and legally caught.
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