Fighting terror with error: the counter-productive regulation of informal value transfers

This paper challenges the widely shared view that the United States and international frameworks regulating terrorist finance and money laundering (AML/CFT) is productive and effective. Through a careful look at the evidence regarding the formal and informal fund transfer systems, this paper shows t...

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Bibliographische Detailangaben
1. VerfasserIn: Passas, Nikos (VerfasserIn)
Medienart: Elektronisch Aufsatz
Sprache:Englisch
Veröffentlicht: 2006
In: Crime, law and social change
Jahr: 2006, Band: 45, Heft: 4/5, Seiten: 315-336
Online-Zugang: Volltext (lizenzpflichtig)
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Schlagwörter:
Financial Action Task Force
Money Transfer
Organize Crime
Suspicious Transaction
Transnational Organize Crime
Beschreibung
Zusammenfassung:This paper challenges the widely shared view that the United States and international frameworks regulating terrorist finance and money laundering (AML/CFT) is productive and effective. Through a careful look at the evidence regarding the formal and informal fund transfer systems, this paper shows that security, crime control and economic policy objectives are systematically frustrated by ill-conceived and misapplied rules. US federal and state regulations in particular illustrate how unrealistic, unaffordable and counter-productive are current arrangements. The paper concludes with some suggestions about how to reverse the ongoing fact-free policy making process.
ISSN:1573-0751
DOI:10.1007/s10611-006-9041-5