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Date: April 30, 2024 Tue
Time: 12:02 am
Time: 12:02 am
Results for terrorism financing
7 results foundAuthor: Financial Action Task Force Title: Money Laundering and Terrorist Financing Through the Real Estate Sector Summary: The objective of this report is to develop more information on the issue of using the real-estate secotor to launder money and to present a clearer picture of the way that real estate activity can be used for money laundering or terrorist financing. First, it explores the means by which illicit money is channelled through the real-estate sector to be integrated into the legal economy. Second, it identifies some of the control points that could assist in combating this phenomenon. Details: Brussels, Belgium: FATF, 2007. 41p. Source: Internet Resource Year: 2007 Country: International URL: Shelf Number: 118345 Keywords: Money LaunderingOrganized CrimeTerrorism FinancingTerrorists |
Author: Farah, Douglas Title: Money Laundering and Bulk Cash Smuggling: Challenges for the Merida Initiative Summary: This paper looks at three distinct parts of the money structure of the Mexican drug trafficking organizations. One is bulk cash shipment, moved largely by vehicle across the U.S.-Mexican border. Another is the broader issue of how other types of drug money circulate in Mexico's formal and informal economies and the how that is used. A third is how money obtained from the cocaine trade is moved back to purchase more cocaine in order to keep the cartels operational. Details: Washington, DC: Woodrow Wilson International Center for Scholars - Mexico Institute; San Diego: University of San Diego, Trans-Border Institute, 2010. 30p. Source: Internet Resource; Working Paper Series on U.S.-Mexico Security Cooperation; Accessed August 17, 2010 at: http://wilsoncenter.org/topics/pubs/Money%20Laundering%20and%20Bulk%20Cash%20Smuggling.%20Farah.pdf Year: 2010 Country: Mexico URL: http://wilsoncenter.org/topics/pubs/Money%20Laundering%20and%20Bulk%20Cash%20Smuggling.%20Farah.pdf Shelf Number: 119620 Keywords: Cash SmugglingDrug Cartels (Mexico)Drug TraffickingMoney Laundering (Mexico)Terrorism Financing |
Author: Bricknell, Samantha Title: Money laundering and terrorism financing risks to Australian non-profit organizations Summary: The exploitation of the non-profit sector for money laundering and, in particular, the financing of terrorism, is understood to have been a long-established practice. However, the methods and sources used by terrorist organisations to finance their activities became a key policy focal point after the terrorist attacks of 11 September 2001 and subsequent (predominantly government) examinations of terrorism funding substantiated the position that non-profit organisations were at an elevated risk of criminal exploitation. The vulnerability of non-profit organisations was related to their social purpose, the cash-intensive nature of their activities and the generally minimal form of regulatory oversight applied to their operations. Adding to this risk was the provision of services that relied on financial contributions and the good will of its supporters, the often regular transmission of funds between jurisdictions and less rigorous forms of administrative and financial management. This report examines the risks to the Australian non-profit sector of money laundering and terrorism financing and describes the regulatory changes that could minimise risk. The report uses information derived from government, non-government and peer-reviewed literature, case law and regulator reports, and observations made by representatives from the non-profit sector, law enforcement and key regulatory agencies, and academia that were consulted for the study. Details: Canberra, Australia: Australian Institute of Criminology, 2011. 83p. Source: AIC Reports, Research and Public Policy Series 114: Internet Resource: Accessed February 10, 2012 at http://www.aic.gov.au/documents/7/3/9/%7B73997C4D-79B3-46B1-8D09-4AFC93E675F5%7Drpp114.pdf Year: 2011 Country: Australia URL: http://www.aic.gov.au/documents/7/3/9/%7B73997C4D-79B3-46B1-8D09-4AFC93E675F5%7Drpp114.pdf Shelf Number: 124043 Keywords: Money Laundering (Australia)Risk AssessmentTerrorism Financing |
Author: United Nations Economic Commission for Africa Title: Illicit Financial Flow Summary: The 4th Joint African Union Commission/United Nations Economic Commission for Africa (AUC/ECA) Conference of African Ministers of Finance, Planning and Economic Development was held in 2011. This Conference mandated ECA to establish the High Level Panel on Illicit Financial Flows from Africa. Underlying this decision was the determination to ensure Africa's accelerated and sustained development, relying as much as possible on its own resources. The decision was immediately informed by concern that many of our countries would fail to meet the Millennium Development Goals during the target period ending in 2015. There was also concern that our continent had to take all possible measures to ensure respect for the development priorities it had set itself, as reflected for instance in the New Partnership for Africa's Development. Progress on this agenda could not be guaranteed if Africa remained over-dependent on resources supplied by development partners. In the light of this analysis, it became clear that Africa was a net creditor to the rest of the world, even though, despite the inflow of official development assistance, the continent had suffered and was continuing to suffer from a crisis of insufficient resources for development. Very correctly, these considerations led to the decision to focus on the matter of illicit financial outflows from Africa, and specifically on the steps that must be taken to radically reduce these outflows to ensure that these development resources remain within the continent. The importance of this decision is emphasized by the fact that our continent is annually losing more than $50 billion through illicit financial outflows. Details: Addis Ababa, Ethiopia: The Commission, 2015. 126p. Source: Internet Resource: Accessed February 4, 2015 at: http://www.uneca.org/sites/default/files/publications/iff_main_report_english.pdf Year: 2015 Country: Africa URL: http://www.uneca.org/sites/default/files/publications/iff_main_report_english.pdf Shelf Number: 134532 Keywords: Financial Crimes (Africa)Money LaunderingTax FraudTerrorism FinancingWhite Collar Crime |
Author: International Monetary Fund Title: Canada: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism Summary: This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in Canada as at the date of the onsite visit (November 3 to 20, 2015). It analyzes the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Canada's AML/CFT system, and provides recommendations on how the system could be strengthened Details: Washington, DC: International Monetary Fund, 2016. 217p. Source: Internet Resource: Country Report No. 16/294: Accessed October 7, 2016 at: https://www.imf.org/external/pubs/ft/scr/2016/cr16294.pdf Year: 2016 Country: Canada URL: https://www.imf.org/external/pubs/ft/scr/2016/cr16294.pdf Shelf Number: 145109 Keywords: Financial crimeMoney LaunderingTerrorism Financing |
Author: Durner, Tracey Title: Untangling a Marriage of Convenience: Anti-Money Laundering and Countering the Financing of Terrorism Summary: Within the realm of policy discussions, anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts are generally treated as a package deal. The Financial Action Task Force (FATF), the FATF Recommendations, and related guidance documents represent today's international AML and CFT standards and are mirrored in laws and initiatives around the world. Given the "obvious similarities and differences between money laundering and terrorism financing," FATF notes "the risks (of both) are often assessed and managed using the same information flows between public and private sector institutions." This convergence between the types of information and stakeholders relevant to money laundering and terrorism financing is, in part, behind the unification of AML and CFT efforts. From a policy-making standpoint, the combination makes sense. Financial intelligence units (FIUs) already analyze suspicious financial activity, including potential instances of money laundering, often triggered by reports from the private sector resulting from frontline compliance and transaction monitoring procedures. It seems logical to incorporate the deterrence, detection, and tracking of terrorism financing into existing AML frameworks. In practice, critics have argued this "marriage" places undue burden on the private sector to understand the intent of criminals behind the actual transactions.2 Others contend that the very premise of CFT policies are misguided, resulting in ineffective and even harmful outcomes. With the rise of the Islamic State of Iraq and the Levant (ISIL) and the preponderance of low-cost, lone-actor attacks in North America and Europe, international attention once again has focused on CFT as a central tenet in the fight against terrorism. In 2016, FATF issued a consolidated strategy on CFT, followed by the adoption of an operational plan in 2018. CFT-specific entities such as the Counter ISIL Financing Group have emerged, and the French government in 2018 convened a high-level international conference focused on combating the financing of ISIL and al-Qaida, with a second conference scheduled for Australia in mid-2019. This brief examines where and how AML frameworks are fit for purpose relative to CFT and considers where additional CFT-specific efforts are necessary. It begins with a brief summary of the evolution of money laundering and terrorism financing policies, discussing the unification of the two fields and the key differences between the motivations and typologies of money laundering and terrorism financing crimes. Against that backdrop, it explores the four objectives of CFT efforts (prevent, detect, freeze, and trace) to identify areas where existing unified AML/CFT frameworks are working and areas where more nuance is required to effectively combat threats specific to terrorism financing. Although particular attention is given to the United States and United Kingdom as international financial centers, similar approaches and convergences between AML and CFT policies and practices occur worldwide. The brief concludes with recommendations on how current CFT policy discourse and evolution can meaningfully support broader counterterrorism objectives. Details: Washington, DC: Global Center on Cooperative Security, 2019. 14p. Source: Internet Resource: Accessed February 22, 2019 at: https://www.globalcenter.org/wp-content/uploads/2019/01/GCCS-PB-Untangling-Marriage-Convenience-AML-CFT-2018.pdf Year: 2019 Country: International URL: https://www.globalcenter.org/wp-content/uploads/2019/01/GCCS-PB-Untangling-Marriage-Convenience-AML-CFT-2018.pdf Shelf Number: 154691 Keywords: Counter-terrorismFinancial CrimesFinancing of TerrorismMoney LaunderingTerrorismTerrorism Financing |
Author: AUSTRAC Title: On-Course Bookmakers: Money Laundering and Terrorism Financing Risk Assessment Summary: The overall money laundering/terrorism financing (ML/TF) risk for Australia's on-course bookmaking sector is assessed as low. The services provided by on-course bookmakers are likely to facilitate low levels of money laundering and tax evasion. No terrorism financing through the sector was observed during the development of this report. The declining nature of the sector and a range of other factors limit the vulnerability of the sector to money laundering and other criminal misuse. On-course bookmakers with relatively large turnovers, including those that provide online betting accounts, are more vulnerable to criminal misuse than other entities. This risk assessment provides detailed information to help the sector understand and respond to the risks associated with the services provided by on-course bookmakers. Details: Sydney, Australia: AUSTRAC, 2018. 19p. Source: Internet Resource: Accessed June 4, 2019 at: http://www.austrac.gov.au/sites/default/files/on-course-bookmakers-risk-assessment.pdf Year: 2018 Country: Australia URL: http://www.austrac.gov.au/course-bookmakers Shelf Number: 156177 Keywords: Australia Gambling Money Laundering Risk Assessment Tax Evasion Terrorism Financing |