Terrorism PLC: Funding spectaculars and catastrophic risk in law

Abstract

Purpose

To describe anticipatory risk as a fundamental pillar for a framework of international law in relation to global terrorism.

Design/methodology/approach

Economic terrorism and global terrorist transactions are used as a case study to demonstrate asymmetric financial crime and vulnerabilities of financial districts, economies and populations.

Findings

The act of anticipation of risk is quantifiable and imposes a duty to manage foreseeable catastrophic consequences. Such a duty in turn creates a proportionate reaction that can be recognised in law.

Practical implications

Recommendations are made for international discussions by jurists, global agreements through the United Nations and the G8 and for national laws, corporate governance standards and regulatory measures to become a seamless extension of the international framework.

Originality/value

Commercial law, criminal law and the international laws and conventions of war require a framework that defines foreseeability, catastrophic risk, uncertainty, adequacy and proportionality.

Citation

Leivesley, S. (2006), "Terrorism PLC: Funding spectaculars and catastrophic risk in law", Journal of Money Laundering Control, Vol. 9 No. 2, pp. 141-156. https://doi.org/10.1108/13685200610660961