View source for Hawala

==Regulation==
Following the [[September 11 attacks]] in 2001, international organizations responsible for [[counterterrorism]] and enforcing laws against [[money laundering]] have directed their efforts on identifying problems within the hawala, as well as other [[remittance]] systems. The First International Conference on Hawala in May 2002 published the ''Regulatory Frameworks for Hawala and Other Remittance Systems''. The [[International Monetary Fund]] (IMF) contributed a chapter, in which [[informal value transfer system]]s were considered. According to the IMF, countries with limited [[financial services]] experience [[macroeconomic]] consequences because residents rely heavily on informal fund transfer systems. Informal value transfer systems share common characteristics, including [[anonymity]] and lack of [[regulation]] or official [[scrutiny]]. Therefore informal value transfer systems may be susceptible to use by criminal organizations for money laundering and [[terrorist financing]].<ref>{{Cite book| title= International White Collar Crime, Cases and Materials | author1=Bruce Zagaris |publisher= Cambridge University Press |year=2010 |isbn= 9781139484275| pages=444}}</ref>