With September 11, terrorism has come to dominate the security concerns of nation-states, especially in Asia, affecting both inter- and intra-regional relations significantly. Though for many Asian countries terrorism was nothing new, threats of transnational terrorism introduced new security challenges, which significantly changed the nature of domestic politics and state-society relations of the regional states and relations among them and with states in other regions. In the new dynamics, the traditional bilateral alliance systems that underpinned much of the security structure and relations in the past are found to be inadequate to deal with the challenge of transnational terrorism. There is thus a need for cooperation among the nations in the region and greater engagement with extra-regional partners through multilateral arrangements. Both India and Southeast Asia grapple with an array of security threats including those from transnational terrorism. Ironically, terrorism provides unique opportunities to both to work together. This article argues that the common desire to fight terrorism could be the imperative that would establish foundations for mutually beneficial partnerships both in their economic and security relations. India and Southeast Asia have substantial experience to deal with terrorism. Both could leverage their mutual expertise to deal with the threat decisively. Besides, economic cooperation between India and the countries in Southeast Asia has the potential to accelerate the pace of development, which in turn could help them to resolve both intra- and inter-regional tensions and to develop the quality of life.
Purpose -As determined by the Financial Action Task Force, trade-based money laundering (TBML) has become one of the three major money laundering methods used today. However, there has been very limited acknowledgment of the risk and counter-measures against TBML until recently. This is particularly problematic with ever increasing trade volumes through transshipment and container shipping which is getting larger by the day. This paper aims to examine the role of TBML as a vehicle for terrorism financing and laundering proceeds of other criminal activity. It also examines the practice of transshipment, analyzes the challenges that this particular phenomenon poses to detection of TBML activity, and looks at possible alternative policy responses to mitigate additional money laundering risks. Design/methodology/approach -This paper analyzes reports made by international organizations and government bodies, particularly, the US Government, dealing with various aspects of financial crime, import/export activity, and world trade statistics, in order to identify major challenges and possible solutions to the problem. Interviews were also conducted with the same goals. Findings -Efforts to monitor and staunch the flow of illicit money through trade would be enhanced through more widespread coverage of customs cooperation and standardization of information sharing procedures between national customs agencies. Also, measures should be taken to make free trade areas more transparent to regulatory scrutiny. Originality/value -This paper serves to expand the limited amount of scholarship on TBML and to suggest a policy approach towards detection of this kind of money laundering activity to policymakers.
PurposeThe purpose of this paper is to challenge the “myth” that terrorism is cheap and that terrorists are extremely efficient in how they use their money.Design/methodology/approachThis paper makes a critical assessment of the “costs” involved in terrorist attacks and addresses the debate about how this affects the overall strategy against terrorist financing.FindingsThis paper argues that costs of terrorism are many and not limited to what is spent on an actual attack. Owing to military and financial counter‐measures, terrorists appear to have lost overall operational efficiency; they are no longer capable of carrying out large‐scale and complex operations like the September 2001 attacks.Originality/valueSmall amounts involved in carrying out a terrorist attack have led to the perception that terrorism is cheap and terrorist attacks can be inexpensively implemented. This has undermined the global and national efforts to counter the financing of terrorism (CFT). This paper is an attempt to persuade the stakeholders in the CFT community that targeting terrorist financing has been and must remain one of the most important fronts in the war against terrorism.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.