Alternative Remittance Systems and Terrorism Financing: by Matteo Vaccani

By Matteo Vaccani

Governments, via their regulatory our bodies, more often than not keep watch over formal monetary zone avid gamers akin to banks, that can go away services operating in casual remittance platforms open air regulatory channels. worth move services—financial transfers played locally or throughout borders on behalf of clients—are necessary to the economy, and as such, are frequently provided through either formal and casual actors. legislations enforcement and counter-terrorism gurus are comparing cash and cost transmission channels for vulnerabilities which can make those channels beautiful for illicit use, together with the financing of terrorism. 'Alternative Remittance structures and Terrorism Financing: concerns in chance administration' goals to aid nations convey those casual replacement remittance structures into their counter-terrorism courses, with no hindering the power of these who depend upon those platforms to ship and obtain funds at cost-efficient.

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Extra resources for Alternative Remittance Systems and Terrorism Financing: Issues in Risk Management (World Bank Working Papers)

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Passas, N. 2003. ” Report to the National Institute of Justice, Washington, DC, November. Ranjan, Rajesh. 2005. ” Presentation at the ADB Joint Conference on Remittances, September 12–13, Manila, the Philippines. Roth, Greenburg et al. 2004. ” National Commission on Terrorist Attacks Upon the United States (also known as the 9-11 Commission). pdf. USA vs. , Second superseding indictment, Criminal No. MJG-07-0239. Williman, J. 2001. ” Financial Times, November 29. Wilson, J. 2002. ” Presentation at the Seminar on Current Developments in Monetary and Financial Law.

Bilateral Financial Settlement Source: Author’s representation. 3). The claimant (Operator B) will receive a payment in a foreign currency to be deposited in a foreign currency denominated account abroad. 3. Multilateral Financial Settlement Source: Author’s representation. Bilateral Trade The operator acquiring the claim (operator B) can see his outstanding position settled by means of accepting foreign goods from the country originating the original ARS transaction (country X). 4). This settlement model is an appealing solution especially when the ARS itself is embedded into an existing import-export business.

2005. ” Presentation at the ADB Joint Conference on Remittances, September 12–13, Manila, the Philippines. Roth, Greenburg et al. 2004. ” National Commission on Terrorist Attacks Upon the United States (also known as the 9-11 Commission). pdf. USA vs. , Second superseding indictment, Criminal No. MJG-07-0239. Williman, J. 2001. ” Financial Times, November 29. Wilson, J. 2002. ” Presentation at the Seminar on Current Developments in Monetary and Financial Law. IMF, Washington, DC, May 16. World Bank and IMF.

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