is there a need for it to be conserved?
Yes, The IUCN listed the giant otter as "endangered".
Giant otter
The IUCN listed the giant otter as "endangered" in 1999; it had been considered "vulnerable" under all previous listings from 1982 when sufficient data had first become available. 
what is giant otter? It is a South American carnivorous mammal. where did it get the name from? Giant otter" translates literally as "nutria gigante" .and "lontra gigante" in Spanish and Portuguese which family does it belong to? Weasel family what sort of habitat does it select to live in? It seems to choose clear, black waters with rocky or sandy bottoms
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Giant otter [SEP] Conservation status
The IUCN listed the giant otter as "endangered" in 1999; it had been considered "vulnerable" under all previous listings from 1982 when sufficient data had first become available. It is regulated internationally under Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES): all trade in specimens and parts is illegal.