Building a New Counter-terrorism Financing Model

2019 ◽  
pp. 244-381
Keyword(s):  
Counter Terrorism ◽  
Terrorism Financing ◽  
Financing Model

scholarly journals Criminalisation of terrorism financing in Iranian law

2020 ◽  
Vol 27 (1) ◽  
pp. 231-244 ◽  
Author(s):  
Zeynab Malakoutikhah
Keyword(s):  
Task Force ◽  
Research Field ◽  
International Standards ◽  
National Liberation ◽  
Content Type ◽  
Counter Terrorism ◽  
Iranian Law ◽  
Terrorism Financing ◽  
Liberation Movements ◽  
Financing Of Terrorism

Purpose The purpose of this study is to demonstrate that to what extent the Iranian criminalisation of terrorism financing meets the international standards of counter-terrorism financing regime, particularly the Financing Convention and the Financial Action Task Force (FATF) Recommendations, and what is the main impediment for Iran to integrate at the international level to combat terrorism financing. Also, it tries to rate the Iranian criminalisation of terrorism financing in accordance with the FATF technical compliance rating. Design/methodology/approach This subject is analysed from an Iranian perspective by undertaking fieldwork through collecting documents in Iran and using the official documents, statements and laws, particularly the Iranian Law of Combating Financing of Terrorism (2018) from both Persian and English sources. Findings Iran’s terrorism financing offence is not completely in line with international counter-terrorism financing regime because of an exemption for the struggle of individuals, nations and national liberation movements with the aim of countering domination, foreign occupation, colonisation and racism. The Iranian support for national liberation movements is derived from the Constitutional Law that requires Iran supports the struggles of the oppressed for their rights against the oppressors anywhere in the world. As a result, the FATF Recommendation 5 (criminalisation of terrorism financing) would be rated partially compliant. Originality/value No article exists specifically on this research field. To the author’s knowledge, this paper, for the first time, examines the Iranian criminalisation of terrorism financing. It rates the criminalisation (Recommendation 5) based on the FATF technical compliance rating because no mutual evaluation has been conducted to date. The paper is useful for academicians, law enforcement, policymakers, legislators and researchers.

Customer’s awareness, trust, discomfort and acceptance of anti-money laundering practices in Malaysian Banks

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zuliera Zariz Azman Aziz ◽  
Seri Ayu Masuri Md Daud
Keyword(s):  
Technology Acceptance ◽  
Money Laundering ◽  
Significant Relationship ◽  
Integrated Approach ◽  
Content Type ◽  
Counter Terrorism ◽  
Banking Secrecy ◽  
Terrorism Financing ◽  
Survey Instruments ◽  
Acceptance Model

Purpose This study aims to examine the associations between customers’ awareness of money laundering and terrorism financing, trust in banking secrecy measures and discomforts in fulfilling the bank’s anti-money laundering (AML) procedure and their acceptance of existing practices of banks regarding AML and counter-terrorism financing. Design/methodology/approach This study adapts a set of survey instruments developed and validated by prior studies to collect the required data. A convenient sample of 160 Malaysian bank customers aged 18 and above were surveyed to collect the data. Findings This study finds a significant relationship between the respondents’ awareness of money laundering and terrorism financing, trust in banking secrecy measures and their acceptance of the bank’s AML and counter-terrorism financing practices. However, no significant relationship is documented between the level of discomforts experienced by customers in satisfying the banks’ AML requirements and their acceptance of the banks’ AML practices. These results hold even after controlling for alternative explanations of the customers’ acceptance of banking practices examined in the extant literature: age, gender, location, literacy level and occupation. Research limitations/implications This study extends the literature on customers’ acceptance of banking practices more broadly by providing empirical evidence on the role of customers’ awareness on issues underlying the banking practices and their trust in the bank’s secrecy measures. Practical implications This study also provides some practical contributions by shedding some light on the factors that could help banks increase the acceptance of AML practices among their customers. Thus, the findings of this paper help banks focus their effort on these factors and hence increase acceptance rate more effectively. Originality/value Drawing on the elements of the theory of reasoned actions and technology acceptance model and the extant research on trust-privacy and comfortability in a banking setting, this study proposes an integrated approach that is theoretically and empirically grounded.

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