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Date: April 29, 2024 Mon
Time: 8:14 pm
Time: 8:14 pm
Results for underground banking
2 results foundAuthor: Zhao, Linda Shuo Title: Underground Banks: The Perspectives of Chinese Illegal Immigrants in Understanding the Role of Informal Fund Transfer Systems in the United States Summary: The financial link in the process of illegal immigration is a little researched domain in the literature. This research is the first exploratory study to examine the role of Chinese-operated informal fund transfer systems in the U.S. in the lives of Chinese illegal migrant workers and their families who remained in China. The primary source of data was in-depth interviews with thirty illegal immigrants in New York City and Philadelphia. The findings show that the emergence of underground banks in the U.S. coincided with the largest waves of Chinese illegal immigrants smuggled into the U.S. since the later 1980s. They served as a preferred means of fund transfer among Chinese illegals due to their unique service, not necessarily because of the clients' illegal status, or any coercive actions by human smuggling groups. Through inductive analysis based on the narrative data, this research is able to trace the trajectory of the evolution of Chinese underground banks over the past decades. The evidence seems to suggest an indirect role played by these illegal fund transfer systems in sustaining transnational illegal labor migration achieved through human smuggling. The research also suggests a declining importance of underground banks and a shift away from their use toward legitimate fund transfer channels among Chinese illegal immigrants since the mid-1990s and a seemingly new role of formal institutions in filling in the vacancy left by underground banks. Finally, the findings suggest that underground banks may have been forced to and have adapted to a narrower and more illicit use. Details: Philadelphia: Temple University, 2009. 253p. Source: Internet Resource: Dissertation: Accessed May 24, 2016 at: http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/49816 Year: 2009 Country: United States URL: http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/49816 Shelf Number: 139147 Keywords: Financial Crimes Human Smuggling Illegal Immigrants Immigrants and Crime Money Laundering Organized Crime Underground Banking |
Author: Veen, H.C.J. van der Title: National Risk Assessment on Money Laundering for the Netherlands Summary: Dutch policy to prevent and combat money laundering is based on the recommendations of the Financial Action Task Force (FATF) and EU directives and regulations. The FATF - an intergovernmental body set up by the G7 in 1989 - focuses on global prevention of money laundering, terrorist financing and other related threats to the integrity of the international financial system. The majority of the FATF's recommendations has been adopted into the fourth EU Anti-Money Laundering Directive, applicable to all EU member states. In short, Article 7 of this directive obliges EU member states to implement a risk-based policy against money laundering and terrorist financing and to establish a National Risk Assessment (NRA). The goal of this NRA is to identify the ten most significant risks relating to money laundering in terms of their potential impact and to assess the 'resilience' of the policy instruments designed to prevent and combat money laundering. Resilience entails the functioning of policy instruments (including legislation), whereby the following is applicable: the greater the resilience, the more the risks are combatted. This initial NRA also describes a number of lessons learned that could be taken into account in the process of subsequent NRAs. Details: The Hague: WODC, 2017. 105p. Source: Internet Resource: Cahier 2017-13a: Accessed July 2, 2018 at: https://english.wodc.nl/binaries/Cahier%202017-13a_2689c_Full%20text_tcm29-328683.pdf Year: 2017 Country: Netherlands URL: https://english.wodc.nl/binaries/Cahier%202017-13a_2689c_Full%20text_tcm29-328683.pdf Shelf Number: 150759 Keywords: Economics and CrimeFinancial CrimeMoney LaunderingRisk AssessmentTerrorist FinancingUnderground Banking |