New payment systems: potential counter-terrorist financing risks and the legal response in the United Kingdom

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

Abstract

The rapid development, increased functionality, and growing use of new payment systems (NPSs) globally has created challenges for countries and private sector institutions in ensuring that these systems are not misused for money laundering and terrorist financing purposes. This has attracted the attention of anti-money laundering and countering terrorist financing (AML/CTF) authorities as they seek to develop and implement AML/CTF regulations for NPSs. This chapter examines the fundamental trend of migration from paper to electronic payments. The basic need for terrorist organisations to raise, move and use funds has remained constant; however, their methods of raising and managing funds have evolved over time. This chapter focuses on the CTF risks of NPSs and the United Kingdom (UK) legal regime.
LanguageEnglish
Title of host publicationAssets, crimes and the state
Subtitle of host publicationinnovation in 21st century legal responses
EditorsColin King, Clive Walker, Katie Benson 
PublisherRoutledge, Taylor and Francis Group
ISBN (Print)9780367025922
Publication statusAccepted/In press - 2019

Fingerprint

money laundering
basic need
functionality
private sector
electronics
migration
regulation
trend

Keywords

  • New Payment System
  • Counter Terrorist Financing
  • FATF

Cite this

Goldbarsht, D. (Accepted/In press). New payment systems: potential counter-terrorist financing risks and the legal response in the United Kingdom. In C. King, C. Walker, & K. Benson  (Eds.), Assets, crimes and the state: innovation in 21st century legal responses Routledge, Taylor and Francis Group.
Goldbarsht, Doron. / New payment systems : potential counter-terrorist financing risks and the legal response in the United Kingdom. Assets, crimes and the state: innovation in 21st century legal responses. editor / Colin King ; Clive Walker ; Katie Benson . Routledge, Taylor and Francis Group, 2019.
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Goldbarsht, D 2019, New payment systems: potential counter-terrorist financing risks and the legal response in the United Kingdom. in C King, C Walker & K Benson  (eds), Assets, crimes and the state: innovation in 21st century legal responses. Routledge, Taylor and Francis Group.

New payment systems : potential counter-terrorist financing risks and the legal response in the United Kingdom. / Goldbarsht, Doron.

Assets, crimes and the state: innovation in 21st century legal responses. ed. / Colin King; Clive Walker; Katie Benson . Routledge, Taylor and Francis Group, 2019.

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review

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Goldbarsht D. New payment systems: potential counter-terrorist financing risks and the legal response in the United Kingdom. In King C, Walker C, Benson  K, editors, Assets, crimes and the state: innovation in 21st century legal responses. Routledge, Taylor and Francis Group. 2019