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Fighting terror with error: the counter-productive regulation of informal value transfers

NCJ Number
Crime Law and Social Change Volume: 45 Dated: 2006 Pages: 315-336
Date Published
22 pages

This paper challenges the widely shared view that the United States and international frameworks regulating terrorist finance and money laundering (AML/CFT) is productive and effective.


Through a careful look at the evidence regarding the formal and informal fund transfer systems, this paper shows that security, crime control, and economic policy objectives are systematically frustrated by ill-conceived and misapplied rules. U.S. federal and state regulations in particular illustrate how unrealistic, unaffordable, and counter-productive are current arrangements. The paper concludes with some suggestions about how to reverse the ongoing fact-free policymaking process. (Published abstract provided)

Date Published: January 1, 2006