Reef sharks play a major role in shaping Caribbean reef communities.  As the top predators of the reef and indicator species for marine ecosystems, they help maintain the delicate balance of marine life in reef environments.  Reef sharks are highly valued for their meat, leather, liver oil, and fishmeal, which make them prone to overfishing and targeting. Yet, their importance for the tourism industry makes them more valuable alive than dead. In 2011, Honduras declared its waters to be a permanent sanctuary for sharks, making fishing for these species completely forbidden.

Another danger posed to humans by the Caribbean reef shark involves the accumulation of toxins in the flesh of the shark. Since sharks are apex marine predators, they may contain toxic levels of mercury and other heavy metals due to bioaccumulation (increasing concentrations at higher levels in the food web). It was found that methylmercury levels (MeHg) in sharks off the coast of Florida were higher than the FDA guidelines.
The Caribbean Reef Shark is known to become aggressive in the presence of food, but they are mostly only considered dangerous to humans because of its size. This shark was fished in Belize for almost the entire 20th century. They were used to make local delicacies in addition to liver oil (mostly used in cosmetics). Their low reproduction rate combined with a high level of hunting and fishing have caused the numbers to dwindle. The shark is now considered to be near threatened. Many countries and organizations have banned the commercial fishing of this species.
The grey reef shark has a streamlined, moderately stout body with a long, blunt snout and large, round eyes. The upper and lower jaws each have 13 or 14 teeth (usually 14 in the upper and 13 in the lower). The upper teeth are triangular with slanted cusps, while the bottom teeth have narrower, erect cusps. The tooth serrations are larger in the upper jaw than in the lower. The first dorsal fin is medium-sized, and there is no ridge running between it and the second dorsal fin. The pectoral fins are narrow and falcate (sickle-shaped).[4]
Adults begin to reproduce once they attain a size of 2 to 3 meters (female) or 1.5 to 1.7 meters (male). They reproduce once per year but childbirth is biennial since the females get pregnant every other year. The reproduction method is Viviparous which means the pups develop inside of the mother. There is evidence that the reproduction method is aggressive and violent since many female Caribbean Reef Sharks have been found with deep wounds on their sides during mating season. These wounds are caused by bites and heal in time leaving large and highly visible scars.
The Caribbean reef shark feeds on a wide variety of reef-dwelling bony fishes and cephalopods, as well as some elasmobranchs such as eagle rays (Aetobatus narinari) and yellow stingrays (Urobatis jamaicensis).[1] It is attracted to low-frequency sounds, which are indicative of struggling fish.[4] In one observation of a 2 m (6.6 ft) long male Caribbean reef shark hunting a yellowtail snapper (Lutjanus crysurus), the shark languidly circled and made several seemingly "half-hearted" turns towards its prey, before suddenly accelerating and swinging its head sideways to capture the snapper at the corner of its jaws.[8] Young sharks feed on small fishes, shrimps, and crabs.[8] Caribbean reef sharks are capable of everting their stomachs, which likely serves to cleanse indigestible particles, parasites, and mucus from the stomach lining.[11]
Blacktip reef sharks are regularly caught by inshore fisheries and are vulnerable to depletion because of their small litter sizes and long gestation periods. Traumatogenic. May become aggressive to spear fishers and are reported to bite people wading in shallow water. Generally marketed fresh (as fillet), may be dried, salted, smoked or frozen. Fins are valued for shark-fin soup; a market that is decimating shark populations worldwide. They are also sought for their liver as source of oil.

^ Garla, R.C.; Chapman, D.D.; Shivji, M.S.; Wetherbee, B.M.; Amorim, A.F. (2006). "Habitat of juvenile Caribbean reef sharks, Carcharhinus perezi, at two oceanic insular marine protected areas in the southwestern Atlantic Ocean: Fernando de Noronha Archipelago and Atol das Rocas, Brazil". Fisheries Research. 81 (2–3): 236–241. doi:10.1016/j.fishres.2006.07.003.

Ancient reefs buried within stratigraphic sections are of considerable interest to geologists because they provide paleo-environmental information about the location in Earth's history. In addition, reef structures within a sequence of sedimentary rocks provide a discontinuity which may serve as a trap or conduit for fossil fuels or mineralizing fluids to form petroleum or ore deposits.