Enforcement outcomes in counterterrorist financing -- Bank of China -- Al Rajhi Bank in Saudi Arabia -- Halk Bank of Turkey -- Institutional independence and regulatory enforcement.
Summary:
"The international financial system is not only economic, but political. This book explores the often overlooked world of terrorist financing and the involvement of the international banking system. In order to address the threat of terrorist organizations in a post-9/11 world (and how they are funded and financed in particular) the international community has constructed a vast architecture of counterterrorist finance laws, policies, and institutions. Connecting the fields of security studies, political economy, and finance, Ian Oxnevad argues that a bank's institutional link to a state (as a state-owned bank or a bank with strong state connections) will protect it from any enforcement action for violations of anti-money laundering and counter-terrorism financing regulations. In the face of states blocking such enforcement actions, these regulations prove ineffective in preventing the financing of terrorism, as the state's self-interest supersedes its interest in preventing terrorist financing. This book seeks to assess how effective new laws and regulations have been, as well as to identify best practices for future attempts to counter the financing of terrorism."-- Provided by the publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.