• Informal value transfer systems and criminal organizations - A study into so-called underground banking networks

      Passas, N. (WODC, 1999)
      This report presents the findings of a preliminary study into what is commonly called 'underground banking systems'. As the conventional banking industry is increasingly being regulated many fear that criminal organizations may turn to alternatives, such as underground banking systems - or informal value transfer systems (IVTS). The methods for this project consistes in a combination of archival, legal and historical analyses with unstructered interviews with regulators, law enforcement agents and academic or other experts from the USA, Canada, Britain, France, Australia, hong Kong, Germany, South Africa, India and Russia. Attention is paid to: the origins of IVTS; causes for continued use of IVTS; where IVTS can be found; use of IVTS by criminals; extent, growth and concern; measures taken (in various countries); research implications; conclusions and policy recommendations. INHOUD: 1. Introduction 2. The origins of IVTS 3. Causes for continued use of IVTS 4. Where IVTS can be found 5. Use of IVTS by criminals 6. Extent, growth and concern 7. Measures taken 8. Research implications 9. Conclusions and policy recommendations