The social impact of counter terrorist finance policies in the UK

Sproat, Peter A.

doi:10.1007/s10611-006-9029-1

Cited by 6 publications

(3 citation statements)

References 3 publications

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“…88 The terrorism argument is used to generate greater powers of intrusive surveillance, 89 and even though the laws might be enhancing financial exclusion, 90 detrimentally affecting Islamic charities, and possibly impeding remittance by migrants. 91 AML, CTF, AND THE IMPERATIVES OF GLOBALIZATION A range of the features of money laundering bear upon the study of globalization. Laundering deals with capital mobility and business regulation.…”

Section: From Aml To Ctfmentioning

confidence: 99%

Money Laundering and Globalization

Alldridge¹

2008

Journal of Law and Society

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The article traces the various imperatives generated by the combination of the money laundering panic of the late 1990s with the advent of globalization. If there is to be an attempt legally to regulate laundering, it (laundering) must be a relatively serious offence, and consequently the anticipated harm must be something other than complicity. The regulatory framework must aspire to being universal and watertight, and (because otherwise the policing costs would be too great) the professions must be recruited to that endeavour. Laundering must be one of the driving forces of international cooperation in criminal justice and thus a force for the homogenization of criminal justice systems.

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Section: From Aml To Ctfmentioning

confidence: 99%

Money Laundering and Globalization

Alldridge¹

2008

Journal of Law and Society

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“…As a consequence, donors might not channel their donations and stakeholders would not have trust on the organizations. Islamic NPOs are suspected as conduits for terrorist financing through mobilization of financial resources and religious traditions of zakat and sadaqah (Hardister, 2003;McCullohand Pickering, 2005;Sproat, 2005).Looking at the potential of Islamic social finance and the risk related the organizations, Islamic NPOs need to be transparent and communicate their accountability.…”

Section: Introductionmentioning

confidence: 99%

Integrated Reporting Based on Maqasid Al-Shariah: A Proposed Framework for Islamic Non-Profit Organizations

Ramli

Ali

Muhammed

2018

Proceedings of the First Padang International Conference on Economics Education, Economics, Business and Management, Accounting

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This research focuses on Islamic non-profit sector which rely on sources from the public. The emergence of this sector can be strengthened by fulfilling the needs of stakeholders for efficient reporting mechanism. Assessing the reporting of the sector would be notable to ensure that it obtains its objectives. Efficient reporting practices should highlight the non-profit perspectives and religious aspects. This research aims to identify the principles of Integrated Reporting (IR) that are suitable for Islamic non-profit organizations that draw its root from zakat, waqf and sadaqah (charity). This research focuses on formulating an IR framework whichis in line with Maqasid al-Shariah concept. IR is a new reporting concept that is holistic, strategic and relevant which represents a more meaningful reporting. This paper theoretically explores and proposes the IR for Islamic non-profit organization in the way to manifest their accountability towards stakeholders. The propose IR framework is expected to make contribution in several aspects. For donors, the IR is expected to be source for decision making. The proposed framework of IR will also guide the board and management in communicating the accountability of Islamic non-profit organizations. The developed IR framework can be an effective communication mechanism that can safeguard missions and visions of the organizations.

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“…The USA has tried to identify charities engaged in facilitating "terrorist" activities and to cut off funds channeled through them (Benthall, 2003). Islamic charities are considered particularly suspect as fronts or conduits for terrorist financing through mobilization of financial resources using informal banking systems and religious traditions of Zakat and Sadaqah (Hardister, 2003;McCulloch and Pickering, 2005;Sproat, 2005). Indeed, the Financial Action Task Force (FATF, 2002) argues that community solicitation and fundraising appeals have been used as effective means of raising funds to support terrorism.…”

Section: Introductionmentioning

confidence: 99%

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

Othman

Ameer²

2014

Journal of Money Laundering Control

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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.

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The social impact of counter terrorist finance policies in the UK

Cited by 6 publications

References 3 publications

Money Laundering and Globalization

Money Laundering and Globalization

Integrated Reporting Based on Maqasid Al-Shariah: A Proposed Framework for Islamic Non-Profit Organizations

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

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