Some truth in this, but not enough. The real problem is big guns with lots of money and not enough resources and money for the anti-poaching guys. It's just not practical to have each and every elephant (or rhino) guarded 24/7. People are starting to put micro chips into rhino horns or just cutting it off.Actually I think a big part of the fault is on the African countries who can't manage to lock up their poachers and get rid of the corruption going on between the poachers and those who are supposed to protect the animals.
The problem is big and there is no easy solution. This law is not going to help, any case.