Purpose The purpose of this paper is to illustrate threefold how hawala banking poses a problem for Swiss banks implementing anti-money laundering (AML) and anti-terrorist financing (ATF) policies as a fulfilment of Switzerland’s UN commitment. Design/methodology/approach The first author...

Purpose The purpose of this article is to determine how terrorist financiers have continued to exploit hawala banking in German-speaking countries, despite regulations in place to prohibit this. Design/methodology/approach The first author interviewed compliance officers and suspected criminals...

Purpose – The purpose of this paper is to study underground banking between Greece and Albania and provide policy makers with specific policy recommendations to reduce hawala, reduce remittances commissions and improve access of banking services to both remittance senders in Greece and...

Purpose The purpose of this paper is to define and characterize peculiarities of countering the legalization of criminal income with the help of virtual assets. Design/methodology/approach The analysis of the legislative delineation and the realities of the practical implementation of the...

Purpose This study aims to assess the relationship between intellectual and social capital and financial statement fraud and money laundering of Iraqi firms before and after the emergence of the Islamic State of Iraq and Syria (ISIS). In other words, this paper seeks to answer the question of...

Purpose This study aims to investigate the Federal Government’s failure to combat money laundering and terrorism financing and the various hurdles to enforce the Money Laundering (Prohibition) Act, 2012 (as amended), effectively, which prohibits illegal earnings criminally induced investments...

Purpose This study aims to explore the perception of the compliance officers of the Pakistani financial sector towards the placement of Pakistan on the grey list by the Financial Action Task Force (FATF). Design/methodology/approach To achieve this objective, the study adopted a qualitative...

Purpose Banditry and terrorism constitute serious security risks in Nigeria. This follows the fact that Nigeria is rated as one of the leading states in the world that is plagued by terrorism. Terrorists and bandits usually embark on predicate crimes such as kidnapping, smuggling, narcotics...

Begins with the response of the Bush administration to the terrorist attacks of September 11, including the establishment of the Foreign Terrorist Asset Tracking Centre and the passing of the PATRIOT Act, and moves on to the reaction of the global community: condemnation by the United Nations,...

Explains why and how lawyers become involved in money laundering schemes. Describes three recent cases of UK solicitors convicted for money laundering ‐ Denis Jebb, Louis Glatt and Noel Horner ‐ and notes that US lawyers are convicted more often than in the UK; this is possibly because in...