Institutionalization of risk management framework in Islamic NGOs for suppressing terrorism financing

Radiah Othman and Rashid Ameer

Journal of Money Laundering Control, 2014, vol. 17, issue 1, 96-109

Abstract: Purpose - – The aim of this paper is to propose solutions for improving internal controls and transparency to alleviate concerns of international community over alleged linked with terrorist groups. Design/methodology/approach - – The authors explore the counter-insurgency theory and political process model to explain the current state of counter-terrorism activities aimed at Islamic NGOs after 9/11. Findings - – The authors believe the idea of money flow disruption to be of greater importance than freezing the accounts to suppress terrorism financing. Practical implications - – Islamic NGOs established for philanthropic and humanitarian aid in third world Muslim countries have been accused of being involved in terrorism financing. This revelation is to the disadvantage of the donors who do not channel their donations for such activities. The authors propose risk management framework useful at operational level to detect and prevent welfare activities financing warfare activities. Originality/value - – The proposed risk management framework is to complement various regional and international initiatives championed by Asia/Pacific Group on Money Laundering and Financial Action Task Force to combat money laundering and terrorist financing.

Keywords: Risk management; Internal control; Islamic non-government organization; Terrorism financing (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-02-2013-0006

DOI: 10.1108/JMLC-02-2013-0006

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