THE ROLE OF THE MONEY LAUNDERING PROCESS IN THE FINANCING OF TERRORISM

Eda Oguz (), Nildag BASAK Ceylan () and Ayhan Kapusuzoglu ()
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Eda Oguz: Directorate-General of Security, Ankara, Turkey
Nildag BASAK Ceylan: Ankara Yildirim Beyazit University, Ankara, Turkey
Ayhan Kapusuzoglu: Ankara Yildirim Beyazit University, Ankara, Turkey

Scientific Bulletin - Economic Sciences, 2021, vol. 20, issue 3, 45-54

Abstract: The two most important elements of terrorist organizations are people and finance. Like all organizations, terrorist organizations also need financing for their actions and activities. Therefore, they are structured to operate in all legal or illegal economic fields that will bring them income. Some of the proceeds of crime are laundered and reintroduced into the system and gains a legal appearance. Some of them are not included in the economic system and cause the informal economy. Financing of terrorism, with its general definition, is the act of providing funds to terrorist organizations, and the success of terrorism is based on its strength in logistics, intelligence and finance. With globalization, especially the financial borders between countries lose their importance, and the world that becomes unlimited makes it easier for illegal organizations to go beyond national borders and threaten the world, as well as serving humanity. Although Terrorist Organizations continue their traditional methods, it is seen that nowadays it has become more complex in terms of accessibility of technological opportunities. In this study, the money laundering process, which is one of the methods used in the financing of terrorism, will be discussed.

Keywords: Money Laundering; Financing of Terrorism. (search for similar items in EconPapers)
JEL-codes: F30 G28 K42 (search for similar items in EconPapers)
Date: 2021
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