Oligarchs may turn to underground payment system used by terrorists
Companies, agencies, institutions, etc
Hawala
Al Qaeda
Senate
Insider
Elucidate
the US Department
Treasury
Isis
the Financial Action Task Force
Claridge
Western Union
that."He
People
Paul Sarbanes
Hawalas
David Claridge
Dragonfly
Shane Riedel
Groups
Russian
Western
Saudi
Physical locations
the Middle East
Places
No matching tags
Locations
US
Germany
UK
Dubai
Events
No matching tags
Summary
Senator Paul Sarbanes said in a Senate hearing on November 14, 2001: "Since little is known about Hawalas, this informal system poses difficulties for law enforcement officials seeking to track the funds utilized for these various purposes." Insider spoke to two experts on the similarities between oligarchs who may be using Hawala and terrorist financing, and how the underground payment systems' lack of regulation appeals to sanctioned individuals.David Claridge, chief executive of security intelligence firm Dragonfly, told Insider that if oligarchs are using Hawalas or any informal payment system to move money around, they must have run out of other options.Doing so would involve hundreds of thousands of smaller transactions rather than one large one, he added.
As said here by Sam Tabahriti