IDEAS home Printed from https://ideas.repec.org/b/wbk/wbpubs/5916.html
   My bibliography  Save this book

Alternative Remittance Systems and Terrorism Financing : Issues in Risk Management

Author

Listed:
  • Matteo Vaccani

Abstract

Terrorism can endanger innocent human life and tear the very threads that hold society together, namely, trust and security. Governments have mobilized a variety of tools in response, ranging from the political to the economic. In attempting to prevent and detect terrorist financing and other forms of material support, those offering financial services have been required to heighten their vigilance of potential terrorist abuse of those services. While protecting financial services from potential abuse, care should be taken not to deny access to those services to those most in need. Dejection and social exclusion are very often conducive to terrorism; therefore, ensuring inclusion of the disenfranchised and creating possibilities for their advancement are key parts of the broader, long-term struggle against terrorism and extremism. The paper begins with a brief description of alternative remittance system (ARS) models and their prevalence. It then covers their potential relationship with terrorist financing, citing cases where ARS have been abused for terrorism financing (TF) purposes. Ways in which countries may control these risks and indications of their effectiveness are covered next. The final chapter provides recommendations on how best to mitigate the risks while ensuring legitimate access to financial services via ARS.

Suggested Citation

  • Matteo Vaccani, 2010. "Alternative Remittance Systems and Terrorism Financing : Issues in Risk Management," World Bank Publications - Books, The World Bank Group, number 5916.
  • Handle: RePEc:wbk:wbpubs:5916
    as

    Download full text from publisher

    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/5916/518410PUB0REPL101Official0Use0Only1.pdf?sequence=1
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Pierre-Laurent Chatain & Raúl Hernández-Coss & Kamil Borowik & Andrew Zerzan, 2008. "Integrity in Mobile Phone Financial Services : Measures for Mitigating Risks from Money Laundering and Terrorist Financing," World Bank Publications - Books, The World Bank Group, number 6530.
    2. World Bank, 2008. "Finance for All? Policies and Pitfalls in Expanding Access," World Bank Publications - Books, The World Bank Group, number 6905.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael King, 2012. "The Unbanked Four-Fifths: Informality and Barriers to Financial Services in Nigeria," The Institute for International Integration Studies Discussion Paper Series iiisdp411, IIIS.
    2. Joao Cadete de Matos & Luis D'Aguiar, 2010. "Measuring the evolution of monetary and financial services in Portugal," IFC Bulletins chapters, in: Bank for International Settlements (ed.), The IFC's contribution to the 57th ISI Session, Durban, August 2009, volume 33, pages 283-295, Bank for International Settlements.
    3. World Bank, 2015. "Republic of Yemen," World Bank Publications - Reports 23660, The World Bank Group.
    4. Florentina Melnic & Daniel Juravle, 2020. "Governance And Access To Finance," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 25, pages 151-168, June.
    5. International Association of Deposit Insurers, 2013. "Financial Inclusion and Deposit Insurance," IADI Research Papers 13-06, International Association of Deposit Insurers.
    6. Arun, Thankom Gopinath & Bendig, Mirko, 2010. "Risk Management among the Poor: The Case of Microfinancial Services," IZA Discussion Papers 5174, Institute of Labor Economics (IZA).
    7. Rahul Anand & Mr. Eswar S Prasad, 2010. "Optimal Price Indices for Targeting Inflation Under Incomplete Markets," IMF Working Papers 2010/200, International Monetary Fund.
    8. Leora Klapper & Dorothe Singer, 2018. "The role of demand-side data - measuring financial inclusion from the perspective of users of financial services," IFC Bulletins chapters, in: Bank for International Settlements (ed.), The role of data in supporting financial inclusion policy, volume 47, Bank for International Settlements.
    9. Yot Amornkitvikai & Charles Harvie, 2018. "SOURCES OF FINANCE AND EXPORT PERFORMANCE: EVIDENCE FROM THAI MANUFACTURING SMEs," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(01), pages 83-109, March.
    10. ONYISHI, Louis O. & ARENE, Chukwuemeka J. & IFIORAH, Chikaosolu M., 2015. "Effects Of Interest Rate Deregulation On Agricultural Finance And Growth In Nigeria," Review of Agricultural and Applied Economics (RAAE), Faculty of Economics and Management, Slovak Agricultural University in Nitra, vol. 18(1), pages 1-8, March.
    11. Augustine Kwadwo Yeboah, 2019. "Drivers of Savings Account Ownership Status: A Cross-Sectional Analysis from Ghana," Journal of Social and Development Sciences, AMH International, vol. 10(1), pages 51-60.
    12. World Bank, 2017. "Indonesia Economic Quarterly, March 2017," World Bank Publications - Reports 30840, The World Bank Group.
    13. Faisal Buyinza & John Mutenyo & Anthony Tibaingana, 2018. "Factors Affecting Access to Formal Credit by Micro and Small Enterprises in Uganda," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 4(4), pages 405-424, October.
    14. Eswar S Prasad, 2014. "Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 62(3), pages 409-429, August.
    15. Giné, Xavier & Mazer, Rafael Keenan, 2022. "Financial (dis-)information: Evidence from a multi-country audit study," Journal of Public Economics, Elsevier, vol. 208(C).
    16. Reeg, Caroline, 2015. "Micro and small enterprises as drivers for job creation and decent work," IDOS Discussion Papers 10/2015, German Institute of Development and Sustainability (IDOS).
    17. Helmi Hamdi, 2011. "Can E-Payment Systems Revolutionize Finance of the Less Developed Countries? The Case of Mobile Payment Technology," International Journal of Economics and Financial Issues, Econjournals, vol. 1(2), pages 46-53, June.
    18. Roberto Alvarez & Ricardo López, 2013. "Financial development, exporting and firm heterogeneity in Chile," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(1), pages 183-207, March.
    19. Abdullah Al Mamun, 2016. "Access to Credit, Education and Entrepreneurial Competencies: A Study among Women Micro-entrepreneurs in Malaysia," Vision, , vol. 20(3), pages 159-168, September.
    20. Oniyishi, L.O. & Arene, C.J. & Ifiorah, C.M., 2015. "An analysis of interest rate deregulation as a policy instrument for stimulating agricultural finance and growth in Nigeria," Nigerian Journal of Agricultural Economics, Nigerian Journal of Agricultural Economics, vol. 5(1).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:5916. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tal Ayalon (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.