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Article
The Malarkey of Money Transfers: Overlooking E-Bay whilst the Hawaladars are Hunted
Australian Counter Terrorism Conference
  • David M Cook, Edith Cowan University,
  • Timothy Smith, Edith Cowan University,
Publication Date
11-30-2010
Document Type
Conference Proceeding
Publisher
School of Computer and Information Science, Edith Cowan University, Perth, Western Australia
Comments

Originally published in the Proceedings of the 1st Australian Counter Terrorism Conference, Edith Cowan University, Perth Western Australia, 30th November 2010

Abstract
Informal Money Transfer systems represent one of several persistent loopholes in the fight against the War on Terror. Terrorist groups and criminal networks continue to use the Hawala system, as well as other informal transfer systems, to escape the regulatory and administrative control of formal international banking transactions. In an age where global financial regulation is underpinned by international agreement through Basel and others, the ongoing use of IVTs in Australia is cause for increasing concern. Yet Hawala is only half of the informal equation. E-bay and its associated bedfellows outstrip Hawala transfers through the same commercial imperative that drives the modern world, simply by doing business. This paper describes the escalating risk in Australian and International money transfers, and the need for a reconsideration of the prevention strategies that conceal the support for terrorist and criminal activities.
DOI
10.4225/75/57a422722b5a5
Citation Information
David M Cook and Timothy Smith. "The Malarkey of Money Transfers: Overlooking E-Bay whilst the Hawaladars are Hunted" (2010)
Available at: http://works.bepress.com/david_cook/8/