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.
|Title of host publication||Assets, crimes and the state|
|Subtitle of host publication||innovation in 21st century legal responses|
|Editors||Colin King, Clive Walker, Katie Benson|
|Publisher||Routledge, Taylor and Francis Group|
|Publication status||Accepted/In press - 2019|
- New Payment System
- Counter Terrorist Financing
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.