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The 9 Special Recommendations on Terrorist Finance: Operational limitations of the regulatory regime

Posted on:2011-06-05Degree:Ph.DType:Dissertation
University:York University (Canada)Candidate:Munshani, KalyaniFull Text:PDF
GTID:1446390002968083Subject:Law
Abstract/Summary:
Post 9/11 witnessed a regulatory amalgamation of two distinct financial activities -- money laundering and terrorist finance. The amalgamation was based on the assumption that nominal distinction exists between the financial activities of organized crime groups and terrorist groups.;The question addressed is: why are aspects of the regulatory structure employed to deal with anti-money-laundering activity operationally unsuitable to deal with the operational aspects of terrorist finance?;The dissertation proves that aspects of the amalgamated strategy are at best ill-considered and limiting, and in the extreme, counterproductive. Furthermore, operationally the regulatory structure built to prevent money-laundering does not lend itself naturally or effectively to detect or deter terrorist finance. And in itself the terrorist finance strategy essentially amounts to a profiling exercise undertaken by reporting entities and/or an over reliance on supranational issued lists to combat the financing of terrorism.;The result of the conceptual amalgamation was a widely accepted and enforced strategy in the form of the 9 Special Recommendations on Terrorist Finance. This study questions the assumption and based on empirical research, aspects the amalgamated strategy.
Keywords/Search Tags:Terrorist finance, Regulatory, Special recommendations, Financial activities, Amalgamated strategy, Aspects
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