Skip to main content

The new frontier of money laundering: how terrorist organizations use cyberlaundering to fund their activities, and how governments are trying to stop them

Buy Article:

$55.00 plus tax (Refund Policy)

Abstract:

This note examines the relatively new crime of cyberlaundering, and explains how terrorist organizations are using the Internet and cyberlaundering to fund their activities. In addition, this paper examines the current money laundering laws of the United States, as well as the attempts taken by the United Nations, the G7, the Organization of American States, and the Council of Europe to stem the laundering of money. The basic process of money laundering is described in detail, and it is explained how terrorist organizations in particular may use the Internet to launder their funds. The paper points out loopholes with respect to cyberlaundering in the money laundering laws of the United States and the multinational organizations mentioned above, and methods are proposed to close those gaps. Although implementation of the proposed methods would be expensive and time consuming, such measures would help stem the use of the Internet by terrorists in funding their activities.

Keywords: cyberlaundering; electronic currency; international law; money laundering; terrorist financing

Document Type: Research Article

DOI: https://doi.org/10.1080/13600834.2011.578933

Affiliations: Levin College of Law (J.D. degree - May 2011), University of Florida, USA

Publication date: 2011-06-01

More about this publication?
  • Access Key
  • Free ContentFree content
  • Partial Free ContentPartial Free content
  • New ContentNew content
  • Open Access ContentOpen access content
  • Partial Open Access ContentPartial Open access content
  • Subscribed ContentSubscribed content
  • Partial Subscribed ContentPartial Subscribed content
  • Free Trial ContentFree trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more