The counter-terrorist finance legal framework: the impact of regulatory compliance on relationships between charities and financial institutions

Angela Maria Theresa Fowler

Journal of Financial Crime, 2021, vol. 29, issue 3, 792-804

Abstract: Purpose - The purpose of this study is to explore the relationship between charities and financial institutions, as each represent pivotal structures in upholding the counter-terrorist finance (CTF) legal framework, and to investigate whether matters of regulatory compliance impact on the ability of charities to fulfil their charitable purpose. Design/methodology/approach - This paper draws on the empirical evidence derived from 34 semi-structured interviews conducted by the author. Findings - The understanding created by the interview data illuminates the challenges and opportunities of interaction between the charity sector and financial service sector in their interpretation and implementation of the CTF regulation. Both direct and indirect effects of this regulatory framework may ultimately affect the operating capability of some charities. Originality/value - The research makes an original contribution to the available knowledge, providing new insights and perspectives by uniquely analysing relationships between stakeholders from the perspective of charities: asking a new set of questions to a new set of participants.

Keywords: Financial crime; Financial institutions; Charities; Counter-terrorist finance legal framework; Regulatory compliance (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-05-2021-0110

DOI: 10.1108/JFC-05-2021-0110

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