3 Comments
User's avatar
OldNFO's avatar

FinCEN's alert is all well and good, but with do nothing to stop the Hawala money moving around, and that is a significant amount that is pretty much untraceable.

Expand full comment
Irene Kenyon's avatar

Hawalas, black market cash exchanges, exchange houses, cash smuggling… these are all huge issues. This alert addresses a part of the problem - the part that is relevant to the formal financial system. Not sure how we can address hawalas. They’re informal value transfer systems.

Expand full comment
OldNFO's avatar

I wonder how much, percentage wise, is actually moved by each entity...

Expand full comment