Current trends in terrorist financing

Fabian Maximilian Teichmann

Journal of Financial Regulation and Compliance, 2021, vol. 30, issue 1, 107-125

Abstract: Purpose - The purpose of this paper is to illustrate how intelligent terrorist financiers avoid detection when acquiring and subsequently transferring financial assets to finance terrorism. Particular emphasis is placed on cryptocurrency. Design/methodology/approach - A qualitative content analysis of 30 semi-standardised expert interviews with both criminals and prevention experts led to the identification of means for the circumvention of current combat the financing of terrorism (CFT) measures with a focus on cryptocurrency. Findings - The findings illustrate, for the benefit of law enforcement agencies, investigators, regulating authorities and legislators, the specific low-risk methods that terrorist financiers use to generate and transfer assets. These findings help to develop more effective prevention methods. Research limitations/implications - Qualitative findings from the analysis of semi-standardised interviews are limited to the 30 interviewees’ perspectives. Practical implications - Identification of gaps in existing CFT mechanisms provides compliance officers, law enforcement agencies and legislators with valuable insights into how criminals operate. Originality/value - The existing literature focuses on organisations that combat terrorist financing and the improvement of CFT measures. This article outlines how terrorist financiers avoid detection. Both preventative and criminal perspectives are considered.

Keywords: Terrorism; Compliance; Compliance and regulation; Terrorist financing; Cryptocurrency (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:jfrc-03-2021-0022

DOI: 10.1108/JFRC-03-2021-0022

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