Assessment of Crowdfunding Risks and Threats in Order to Counteract the Legalization (Laundering) of Criminal Proceeds and the Financing of Terrorism

Ильина, Т. Г.; Tyuleneva, Nataliya; Makoveeva, V; Ruzina, Elizaveta I.

doi:10.1007/978-3-030-29586-8_34

Cited by 2 publications

(1 citation statement)

References 4 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Such studies are crucial in evaluating the current developments and innovations in financial funding for terrorism financing. Previous literature has indicated that sources of funding can change with technological developments such as through a crowdfunding exercise on digital platforms (Ilina et al , 2019). These funded organisations can then expand and grow their network, as all organisations require capital for constant growth.…”

Section: Introductionmentioning

confidence: 99%

Financial innovations in terrorism financing: a case study of Malaysian terror financing

Zahari,

Said,

Abdullah

et al. 2023

JCRPP

View full text Add to dashboard Cite

Purpose This paper aims to employ the use of focus groups composed of enforcement officers to explore and identify the financial methods used by terrorism-related organisations in Malaysia. Design/methodology/approach The study used an open-ended question and focus group methods to gather information from 20 Malaysian enforcement officers with extensive experience in dealing with terrorism-related activities, as they strive to prevent and counter terrorism incidents. In addition, experienced practitioners and field experts also contributed to the study. Findings The study reveals various innovative financial methods used by terrorist-linked organisations to evade detection by local enforcement agencies. These findings are consistent with previous research, which highlights the intelligence of these organisations in avoiding detection by financial regulators. Research limitations/implications The findings are based on the perspectives of enforcement officers involved in preventing and countering terrorism activities. Further research could be conducted to gather insights from other government agencies, such as the judiciary or local agencies. Practical implications The study offers practical suggestions for organisations and institutions on effectively monitoring and taking appropriate actions in financial activities related to terrorism. Originality/value This study provides unique insights into the financial methods of terrorism-related organisations in an emerging country in Southeast Asia. Its findings can be applied throughout the region, given the country’s global connectivity. Furthermore, the study is distinctive in that it provides information from enforcement officers within terrorism-related government organisations, an area where resources are limited. The study also considers the impact of the pandemic on the development of these financial innovations by terrorist organisations.

show abstract

Section: Introductionmentioning

confidence: 99%

Financial innovations in terrorism financing: a case study of Malaysian terror financing

Zahari,

Said,

Abdullah

et al. 2023

JCRPP

View full text Add to dashboard Cite

show abstract

Using a digital payment infrastructure for criminal incomes legalization: main trends

Khisamova

2022

RusJEL

View full text Add to dashboard Cite

Objective: to identify the main trends in using the digital payment infrastructure for the legalization of criminal revenues. Methods: the methodological basis of the research is a set of methods of scientific cognition, including analysis, synthesis, analogy and comparison.Results: assessing the law enforcement practice in the field of using the digital payment infrastructure for the legalization of criminal revenues and the activities of law enforcement agencies in the field of money laundering at the global level, the author identified and analyzed the following main trends: a) the convergence with the position of the group developing financial measures to combat money laundering in terms of regulation, despite the absence of uniform rules; b) the active inclusion into the sphere of criminal legislation of norms aimed at prohibiting the use of digital assets for money laundering;the problem of jurisdictions and the lack of supranational regulation mechanisms; d) the consolidation of law enforcement efforts and joint operations to curb criminal activity; e) the active use of the confiscation The author comes to the conclusion that the initiative of the Russian Ministry of Internal Affairs and other law enforcement agencies to develop a mechanism for the confiscation of digital assets in the absence of positive regulation seems to be a very inaccurate solution, although determined by the objective circumstances and criminogenic situation.Scientific novelty: the study evaluates the law enforcement practice in the field under consideration and the activities of law enforcement agencies in the field of money laundering at the global level; it highlights the key trends in the use of digital payment infrastructure for money laundering.Practical significance: the main provisions and conclusions of the research can be used by legal scholars, legislators, lawyers and law enforcement officers in the development and improvement of mechanisms to counter the use of digital payment infrastructure for the legalization of criminal revenues.

show abstract

Assessment of Crowdfunding Risks and Threats in Order to Counteract the Legalization (Laundering) of Criminal Proceeds and the Financing of Terrorism

Cited by 2 publications

References 4 publications

Financial innovations in terrorism financing: a case study of Malaysian terror financing

Financial innovations in terrorism financing: a case study of Malaysian terror financing

Using a digital payment infrastructure for criminal incomes legalization: main trends

Contact Info

Product

Resources

About