Abstract
This chapter explores the role of precautionary logic and suspicion in the assessment of risk and the development of counter terrorism finance strategies post 9/11 as applied to informal value transfer systems such as Hawala. The chapter considers the impact of regulation on these systems, from an international perspective, citing the Al Barakaat remittance provider, exemplifying the challenge for ‘regulators’ in balancing the management of the risks posed by informal value transfer systems, and the support they offer to developing countries and in promoting financial inclusion. The regulation of these systems within the UK, and the recent withdrawal of banking services for UK-regulated remittance businesses, is considered from the perspective of precautionary logic.
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