Crime, Law and Social Change

, Volume 45, Issue 4, pp 315–336

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

Article

DOI: 10.1007/s10611-006-9041-5

Cite this article as:
Passas, N. Crime Law Soc Change (2006) 45: 315. doi:10.1007/s10611-006-9041-5

Abstract

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. US 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 policy making process.

Copyright information

© Springer Science + Business Media B.V. 2006

Authors and Affiliations

  1. 1.College of Criminal JusticeNortheastern UniversityBostonUSA