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Few Signs of Terrorist Financing for Banks to Detect, Says Former IMF Agent
printSpeaking at an anti-money laundering conference last year, Richard Gordon, an associate professor at Case Western University and the U.S. Director of the Canada-United States Law Institute, announced that he was working with the World Bank on a report about red flag indicators of terrorist financing. The only problem, he noted, was that there were no clear red flags for financial institutions to detect. That's because terrorists often obtain funding for their operations and training through incremental payments from otherwise legitimate charities, said Gordon. What's more, in an analysis of some 50 international terrorist financing cases, the charities and individuals...
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