INCREASED ANTI-MONEY LAUNDERING BANKING REGULATIONS AND TERRORISM PROSECUTIONS

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13Mar_Kao_Albert.pdf (1.44 MB)
Authors
Kao, Albert L.
Subjects
anti-money laundering
banking regulations
cash transaction reports
money laundering
terrorism finance
USA PATRIOT Act
confidential informants
prosecutions
Financial Action Task Force (FATF)
Financial Crimes Enforcement Network (FinCEN)
U.S. Department of Treasury
Advisors
Fernandez, Lauren
Date of Issue
2013-03
Date
Mar-13
Publisher
Monterey California. Naval Postgraduate School
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Abstract
After 9/11, anti-money laundering banking regulations were increased to counter terrorism finance. This study attempts to identify whether increasing banking regulations has countered terrorism finance by reviewing terrorism prosecutions. This study looked at federal terrorism prosecutions from January 2004 through April 2009. The study reviewed court documents and case backgrounds for indicators that anti-money laundering banking regulations were useful to the terrorism prosecution by either detecting terrorism financing or by supporting other charges, such as money laundering. The study did not find that banking regulations detected terrorist financing. The avoidance of banking regulations was used to support money laundering charges in two cases; however, pre-9/11 regulations would have sufficed. The study found that increasing anti-money laundering banking regulations had limited effects on countering terrorism financing. How anti-money laundering banking regulations are implemented within a counter-terrorism finance regime should be reevaluated.
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CHDS State/Local
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https://hdl.handle.net/10945/32842
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National Security Affairs
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