Search results

This paper aims to examine the current situation in Afghanistan after the rapid withdrawal of US troops and the Taliban takeover of the country, and how this has shed new light on the financing of terrorism.

Informal interviews were conducted with alleged perpetrators as well as formal interviews with compliance experts to further investigate the subject of terrorist financing in the wake of the latest changes in Afghanistan and terrorist financing through hawala banking. The interviewees were analysed through a qualitative analysis.

Based on the interviews, it was concluded that both illegal and legal sources of income could be used by terrorist financiers. This study also shows why hawala represents a significant challenge for counter-terrorist financing policies.

While existing literature sufficiently links parallel banking systems, such as hawala, to terrorist financing, this study shows the implications for Switzerland’s perceived commitment against financial crime in light of current changes in Afghanistan, and in addition, certain dogmatic weaknesses of Article 260^quinquies of the Swiss Penal Code are critically analysed.

This paper aims to demonstrate how illicit funds are being laundered through underground currency exchange networks.

Sixty interviews with money launderers and compliance officers were conducted to identify methods relevant to current money laundering issues. Further, a quantitative survey of 200 compliance officers was administered.

The currency exchange method is highly suitable for money launderers with access to a criminal network. It may be used for placement or pre-placement. Evidently, the vast majority of compliance officers fail to recognize the utilization of this method in their daily business.

Implications are based on the statements of 60 interviewees, comprising both alleged money launderers and compliance officers.

The study identified gaps in anti-money laundering mechanisms. The documentation of said inconsistencies aims to provide compliance officers, law enforcement agencies and legislators with useful insights into the minds of money launderers.

Whereas most prior literature focuses on money laundering prevention methods, how money launderers operate is not illustrated. This study comprehensively overviews the issue by interviewing not only compliance officers but also money launderers. Understanding how money launderers operate is essential to effectively prevent money laundering. In particular, compliance officers must be able to view money laundering from the criminal’s perspective to sufficiently combat the issue.