Naslov
Hawala's Appeal in Terrorism Financing

Autori
Kovač Klemar, Tatjana ; Cindori, Sonja

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Security Concepts and Policies - New Generation of Risks and Threats / Marjan Gjurovski - Skopje : Fakultet za bezbednost, 2017, 121-129

ISBN
978-608-4828-04-4

Skup
International Scientific Conference Security Concepts and Policies – New Generation of Risks and Threats

Mjesto i datum
Ohrid, Sjeverna Makedonija, 04.06.2017. - 06.06.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Hawala, money laundering, terrorism, anonymity, transfer

Sažetak
As an alternative value transfer system, Hawala has certain benefits, but also shortcomings when compared to the classical banking system. Hawala is implemented as value transfer systems in many Asian and Pacific countries effectively which is demonstrated by the fact that the flow of money through it amounts to billions of dollars annually. Beside its negative effect on the macroeconomic area as potential adverse statistical, fiscal, and balance-of-payments implications of such activities, there is one very specific positive characteristic inherent to Hawala which particularly stands out - the relationship of trust between participants who most frequently belong to the same ethnic group. Reasons why Hawala can be misused for money laundering and terrorism financing is because it is impossible to fully control and regulate such a system, there is no written record of carried out transactions and it is very efficient for moving large amounts of money quickly and secretly. Even though control of such a system can be described as "catching smoke", its significance and efficiency in money laundering and terrorism financing cannot be ignored, which is why appropriate prevention measures need to be implemented.

Izvorni jezik
Engleski

Znanstvena područja
Pravo

POVEZANOST RADA