» » Illicit Money and Informal Avenues: Addressing International Hawala Channels

eBook Illicit Money and Informal Avenues: Addressing International Hawala Channels epub

by Heidi C Johnson

eBook Illicit Money and Informal Avenues: Addressing International Hawala Channels epub
  • ISBN: 1896440525
  • Author: Heidi C Johnson
  • Genre: No category
  • Language: English
  • Publisher: Ctr/Foreign Policy Studies (2007)
  • ePUB size: 1901 kb
  • FB2 size 1597 kb
  • Formats mbr mobi lit rtf


What also makes Hawala channels so attractive is the extent to which the network has expanded with the growth of distant .

What also makes Hawala channels so attractive is the extent to which the network has expanded with the growth of distant diaspora. For instance it would be highly likely the 647,000 displaced Somalis in Yemen are completely reliant upon this traditional form of Arab banking. By educating and advising their Western colleagues on Hawala channels, local experts could potentially deny this avenue to those who kidnap and murder innocent seafarers. As many countries have found when dealing with a terrorist menace, preventing financing through organised criminality provides an advantage in the campaign to defeat the criminals.

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Money remitted through official channels might invite scrutiny from tax authorities; hawala provides a scrutiny-free . Since hawala is a remittance system, this question really addresses regulations governing remittance services10 and the circumstances of the remittance.

Money remitted through official channels might invite scrutiny from tax authorities; hawala provides a scrutiny-free remittance channel. The assumption here, of course, is that these remittances are like Abdul’s, and “legitimate”; the illicit use of hawala in money laundering is discussed in the next section of this paper.

Illicit Money and Informal Avenues.

HAWALA’ is nothing but an informal,unregulated mode of transaction,that usually occurs so as to smuggle foreign currency . HAWALA is a transaction where money is transferred between sender and receiver by HAWALDARs. HAWALDARs charge a commission for these transactions.

HAWALA’ is nothing but an informal,unregulated mode of transaction,that usually occurs so as to smuggle foreign currency to & fro your country. Note: Sender and Receiver can be same or different.

Informal money agents carry significant stature in developing regions, and .

Informal money agents carry significant stature in developing regions, and should be viewed in this light (Bowers, 2009;). Particular reference is made to informal value transfer systems, such as hawala, which have come under sustained suspicion.

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