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Eloohi Nazari, H., Amiri, S., Biniaz, Z. (2022). Standards of Alternative Remittance Systems in Money Laundering and Financing of Terrorism. , 52(3), 1227-1252. doi: 10.22059/jplsq.2020.286020.2094
Hamid Eloohi Nazari; saleh Amiri; Zahra Biniaz. "Standards of Alternative Remittance Systems in Money Laundering and Financing of Terrorism". , 52, 3, 2022, 1227-1252. doi: 10.22059/jplsq.2020.286020.2094
Eloohi Nazari, H., Amiri, S., Biniaz, Z. (2022). 'Standards of Alternative Remittance Systems in Money Laundering and Financing of Terrorism', , 52(3), pp. 1227-1252. doi: 10.22059/jplsq.2020.286020.2094
Eloohi Nazari, H., Amiri, S., Biniaz, Z. Standards of Alternative Remittance Systems in Money Laundering and Financing of Terrorism. , 2022; 52(3): 1227-1252. doi: 10.22059/jplsq.2020.286020.2094

Standards of Alternative Remittance Systems in Money Laundering and Financing of Terrorism

فصلنامه مطالعات حقوق عمومی دانشگاه تهران
Volume 52, Issue 3, October 2022, Pages 1227-1252    PDF (767.66 K)
Document Type: Article
DOI: 10.22059/jplsq.2020.286020.2094
Authors
Hamid Eloohi Nazari1; saleh Amiri* 2; Zahra Biniaz2
1Assistant Prof., Department of Public Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran
2Ph.D. Student in International Law, Faculty of Law and Political Science, University Of Tehran, Tehran, Iran
Abstract
Financial transactions within the economic life of various societies have never been confined to formal methods approved by states. To the contrary, based on the economic needs of individuals in every society, parallel to the formal mechanisms, other methods are employed for transferring funds and credit. Nonetheless, these alternative remittance systems, in addition to meeting legitimate needs, have sometimes been used by criminals for committing crimes such as money laundering and financing of terrorism to the effect that tracing and prosecuting the crimes becomes more difficult.International instruments such as the United Nations Convention against Corruption International Convention for the Suppression of the Financing of Terrorism, recommendations by the Financial Action Task Force, as well as Security Council Resolution 1373, have sought to encourage states to implement measures to combat such abuses. In recent years, the Islamic Republic of Iran has likewise made a considerable effort to ensure that its national legal system meets the standards laid down in international instruments, even as these endeavors require increased revision and update.
Keywords
alternative remittance systems; Financial Action Task Force; financing of terrorism; money laundering
References
 

English

  1. A) Books
  2. Acharya, A. (2009), Targeting Terrorist Financing: International Cooperation and New Regimes, London and New York: Routledge .
  3. Bester, Hennie; Chamberlain, Doubell; de Koker, Louis; Hougaard, Christine; Short, Ryan; Smith, Anja and Walker, Richard (2008), Implementing FATF standards in developing countries and financial inclusion: Findings and guidelines. Johannesburg, South Africa: Genesis Analytics.
  4. El Qorchi, M., Maimbo, S. M., Autmainbo, S. M., & Wilson, J. F. (2003). Informal Funds Transfer Systems: An analysis of the informal hawala system(Vol. 222). International Monetary Fund.
  5. FATF . (2018), R32: The FATF Recommendations, International Standards on Combating Money Laundering And The Financing of Terrorism.
  6. FATF Guidance (2017), Private Sector Information Sharing.
  7. FATF Report (2010), Money Laundering through Money Remittance and Currency Exchange Providers. France.
  8. FATF Report (2015), Money Laundering Through the Physical Transportation of Cash.
  9. FATF Report (2015), Money Laundering Through the Physical Transportation of Cash. Paris Cedex 16, France.
  10. FATF SR/VI. (2018), SR/VI: The FATF Recommendations, International Standards on Combating Money Laundering And The financing Of Terrorism.
  11. Kiser, S. (2005), Financing Terror: An Analysis And Simulation For Affecting Al Qaeda's Financial Infrastructure. Washington D.C.: RAND.
  12. Maimbo, S. M. (2005), Remittance: Development Impact and Future Prospect, The World Bank.
  13. Milt, K. (2018), Virtual currencies and terrorist financing: assessing the risks and evaluating responses, Policy Department for Citizens' Rights and Constitutional Affairs. European Parliament.
  14. Passas, N. (2005), Informal Value Transfer Systems, Terrorism and Money Laundering. A report to the National Institute of Justice.
  15. Passas, N., & Maimbo, S. M. (2008), The design, development, and implementation of regulatory and supervisory framework for informal fund transfer systems. In T. J. Biersteker, & S. E. Eckert, Countering the Financing of Terrorism.
  16. Schott, P. A. (2006), Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism: Second Edition and Supplement on Special Recommendation IX. The International Bank for Reconstruction and Development/The World Bank/The International Monetary Fund.
 

  1. B) Articles
  2. Blazejewski, K. S. (2018), “The FATF and Its Institutional Partners: Improving the Effectiveness and Accountability of Transgovernmental Networks”, Temple International and Comparative Law Journal, 22, 1.
  3. Bloustein, Edward J. (1964), “Privacy as an Aspect of Human Dignity: An Answer to Dean Prosser”, New York University Law Review, 39, 962.
  4. Cook, David M. (2011), “Finance, fear, and family: issues of trust and the common ground with terrorist funding”, Australian Counter Terrorism Conference.
  5. Dalton, P. S., Pamuk, H., Ramrattan, R., van Soest, D., & Uras, B. (2019), “Transparency and Financial Inclusion: Experimental Evidence from Mobile Money”.
  6. Haffke, L., Fromberger, M., & Zimmermann, P. (2019), Virtual Currencies and Anti-Money Laundering–The Shortcomings of the 5th AML Directive (EU) and how to Address them. Available at SSRN 3328064.‏
  7. IMF. (n.d.), https://www.imf.org/external/np/leg/amlcft/eng/aml2.htm. Retrieved 2019, from https://www.imf.org.
  8. Kumar, L. T. (2009), “Global Governance: The Case of Money Laundering and Terrorist Financing”, Forum on Public Policy, University of Houston.
  9. Maimbo, S. M., & Passas, N. (2004), “The regulation and supervision of informal remittance systems’, Small enterprise development, 15(1), pp.53-61.
  10. McElroy, W. F. (2016), “Closing the Financial Privacy Loophole: Defining Access in the Right to Financial Privacy”, Wash. UL Rev., 94, 1057.
  11. Ranjan, R. (2005), “Alternative Remittance System: Challenges and Strategies”, Presentation at the ADB Joint Conference on Remittance. Manila.
  12. Savia, C. (2019), Processing Financial Crime Data under the GDPR: in the light of the 5th Anti-Money Laundering Directive.
  13. Shah, Arand Ajay (2007), “The International Regulation of Informal Value Transfer System”, Utrecht Law Review, 3(2), 193.
  14. Silva, P. G. (2019), “Recent Developments in EU Legislation on anti-money laundering and terrorist financing”, New Journal of European Criminal Law, 10(1), pp.57-67.
  15. Vaccani, M. (2009), Alternative Remittance System and Terrorism Financing. Washington D.C.: World Bank working paper.
  16. Wheatley, J. (2005), “Ancient Banking, Modern Crimes: How Hawala Secretly Transfers The Finances of Criminals and Thwarts Existing Laws”, University of Pennsylvania Journal of International Economic Law, 26:2, 347.
 

  1. C) Verdicts
  2. European Court of Human Rights. (2018). Guide on Article 8 of the European Convention on Human Rights: Right to respect for private life and family life, home, and correspondence.
  3. Oil Platforms (Islamic Republic of Iran v. United States of America) Preliminary Objection, Judgment, 1. C. J. Reports 1996, p. 803, 818
 

  1. D) Document
  2. Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion
  3. Circular No. 9/92805 August 2010, General Management of Regulations, Licenses and Anti-Money Laundering Office of the Central Bank Anti-Money Laundering Office
  4. Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data (Convention 108).
  5. Convention for the protection of individuals with regard to the processing of personal data (Convention 108 +).
  6. Council of Europe, Committee of Ministers, Explanatory Memorandum to Recommendation No. R (87) 15 of the Committee of Ministers to member states regulating the use of personal data in the police sector (Adopted by the Committee of Ministers on 17 September 1987 at the 410th meeting of the Ministers’ Deputies)
  7. Directive (EU) 2016/380 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons for the purposes of the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, and on the free movement of such data, and repealing Council Framework Decision 2008/977/JHA.
  8. Directive (EU) 2016/679 (General Data Protection Regulation)
  9. Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and amending Directive 2009/138/EC and 2013/36/EU.
  10. International Convention for the Suppression of the Financing of Terrorism
  11. International Covenant for Civil and Political Rights
  12. United Nations Convention againt Corruption (UNCAC)
  13. United Nations Security Council (UNSC). (28 September 2001). Threats to international peace and security caused by terrorist acts (S/RES/1373 [2001]). Retrieved from http://unscr.com/en/resolutions/1373
 

Refrences In Persian

  1. A) Books
  2. Mehrpour, Hossein (2015), International Human Rights System, Tehran, Information Publications (In Persian).
  3. Rahimi, Maryam (2018), The Impact of Cyberspace on the Evolution of the Concept of Legislative and Judicial Powers of Governments, Master Thesis, pp. 75-76 (In Persian).
  4. Sadeghi, Hussein (2007), Protecting the Information and Communication Privacy in International Documents and Iranian Law, University of Tehran Press (In Persian).
 

  1. B) Articles
  2. Nissan Bam, Helen (1381),” Protecting the right to privacy in the information age. Translated by Abbas Imani”, Journal of Research, No. 2, 171-201 (In Persian).
 

  1. D) Document
  2. Amendment of the executive instructions of the rules governing foreign exchange, bank documents and anonymous securities with the passenger (1396), Article 1 (In Persian).
  3. Anti-Money Laundering Law approved in 2007 (In Persian).
  4. Funds Documentation Regulations, No. 211815 / T39395 AH, 2007, Article 5 (In Persian).
  5. Law on Amending the Anti-Money Laundering Law approved in 1397 (In Persian).
  6. Law on Amending the Law on Combating the Financing of Terrorism, 1397 (In Persian).
  7. Law on Combating the Financing of Terrorism, 2015 (In Persian).
  8. Law on the Accession of the Government of the Islamic Republic of Iran to the United Nations Convention against Corruption, approved by the Expediency Council, 2008 (In Persian).
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