The Informal Funds Transfer System “Hawala” as a Segment of the Shadow Economy: Social Impact Assessment and Framework for Combating
- 1 Karaganda “Bolashak” University, Kazakhstan
Copyright: © 2020 Bakhyt Moldatjaevich Nurgaliyev, Kanat Sametovich Lakbayev, Alexey Vladimirovich Boretsky and Aiman Kudaibergenovna Kussainova. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The research considers the problems of social impact assessment in the informal funds transfer systems based on the principles of the ''hawala''. The international experience, leads us to express an opinion that the degree of its public danger through the possibility of financing terrorism, extremism, drug trafficking and transnational organized crime is underestimated. The methods of counteracting these processes by the state and society are suggested.
- Informal Funds Transfer Systems
- Shadow Economy
- Financing of Terrorism and Extremism