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