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Title: A critical examination of the anti-money laundering legislative framework for the prevention of terrorist finance with particular reference to the regulation of alternative remittance systems in the UK
Author: Cooper, Karen Anne
Awarding Body: University of Leeds
Current Institution: University of Leeds
Date of Award: 2014
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In the climate of insecurity post 9/11states sought to limit the operational capacity of terrorist groups by restricting their access to funds. Alternative remittance systems such as Hawala, were suspected to have been used to transfer the funds for use in the 9/11 attack. Consequently they became a source of international concern in light of the ‘new models’ of terrorism that emerged which have since warranted a review of national and international counter terrorist strategies. This work has sought to investigate the historical origins and model of operation of traditional Hawala, considering the risks these system pose for assisting terrorist financing. A normative framework has been presented against which counter terrorist strategies and the measures enacting their aims are considered for their protection of fundamental rights and their capacity for promoting financial inclusion. This framework has been presented as a driver to international action to address the international threat posed from terrorism in order to protect human rights and human security. This thesis has considered the UK remittance population and the capacity of the UK remittance operators, regulated as money services businesses, to promote financial inclusion within the UK. The central focus and originality of this work has been the critical review of the UK regulatory framework for terrorist finance relating to remittance services. This work has presented a critical review of the effectiveness of the regulatory framework for these businesses which was investigated through fieldwork research. This investigated the views of money service business operators and regulators as to the effectiveness of the Money Laundering Regulations 2007 for preventing terrorist finance. Additionally this fieldwork research aimed to consider the impact of regulation on these businesses and the money service sector. This work has drawn on the findings from the research fieldwork to conclude as to whether the regulatory framework has been effective in controlling the risks of misuse for terrorism associated with traditional hawala, in relation to money services businesses in the UK context. The work has concluded as to whether regulation in the UK context has effective for and normatively compliant in the regulation money service businesses in the UK.
Supervisor: Walker, C. ; Campbell, A. Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available