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- Title
FINANCING TERRORISM WITH SPECIAL FOCUS ON THE INFORMAL REMITTANCE SYSTEM CALLED HAWALA.
- Authors
KATONA, László
- Abstract
The nature of terrorism has been changed significantly at the beginning of the 21. century. Due to the globalisation tendencies, the wars in the Middle-East, the rapid development of mass communication and technology, the widening access to the Internet and to the effects of the media an accelerated spread of extremist ideologies have been witnessed with the use of new and more destructive methods, with not only military but civilian population targets as well. A terrorist attack might happen anywhere, anytime. All these phenomena urge the need for solution to liquidate terrorism. The most effective way in fighting terrorism is to eliminate its pecuniary and economic background together with hindering its finance. As a result of strict regulations on official cash flow, criminals and terrorists are forced to find ways of transferring money from one part of the world to the other which remains invisible to authorities. Although hawala is flourishing, other anonymous ways of money transfer have appeared on the Internet. The aim of this study is to introduce hawala, revealing the risks it constitutes in financing terrorism, and -in general- in financial operations linked to illegal activity.
- Publication
Military Science Review / Hadtudományi Szemle, 2014, Vol 7, Issue 2, p62
- ISSN
2676-9816
- Publication type
Academic Journal