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Are financial institutions’ counter-terrorist financing controls fit for today’s challenges?

Author

Listed:
  • Wall, Richard

    (Money Laundering Reporting Officer, Bank Leumi, UK)

Abstract

This paper aims to provide insights into the latest developments of terrorist financing and the challenges faced by financial institutions in trying to counter this. Proposing the case for a greater use of social media and more agile monitoring systems, currently not espoused by industry best practice within the UK financial sector, the author shares insights of counterterrorist financing (CTF) typologies and hypothesises how a combination of both could strengthen current terrorist financing system and controls.

Suggested Citation

  • Wall, Richard, 2019. "Are financial institutions’ counter-terrorist financing controls fit for today’s challenges?," Journal of Financial Compliance, Henry Stewart Publications, vol. 3(2), pages 181-191, December.
    • Handle: RePEc:aza:jfc000:y:2019:v:3:i:2:p:181-191
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    More about this item

    Keywords

    counter-terrorist financing; CTF; social media; screening;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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