Hawala

Hawala Banking is a Money Service Business, a term coined by the UK Authorities such as HMRC. Hawala is used to transfer money around the world and is part of an “informal value transfer system” that operates alongside, interacting with, conventional High Street Banking. The system is often referred to as “Hawala and Similar Service Providers (HOSSPs)” by the regulators such as the National Crime Agency (NCA).

The Authorities can be quite zealous when confronting persons interacting legitimately with the Hawala system, and often it is necessary to explain how their financial affairs are being conducted, providing an expert explanation of the workings of the system and differentiating between its abuse by money laundering gangs and its use by innocent individuals and companies transacting billions using this method all around the world.

Mark Jenner has provided many expert reports in criminal prosecutions revolving around Hawala Banking, explaining the system to the Courts and how innocent parties are often caught up when others abuse it.

What Is The Problem With Hawala?

As a forensic accountant I have been dealing with cases of money laundering involving some Hawala aspect or another for a number of years. Hawala and Similar Service Providers (HOSSPs) are money transfer businesses that are used extensively in other … Read more…

How Can You Prevent Money Laundering?

Money laundering crops up in most of my forensic accounting assignments. This can range from tracing money stolen by the fraudsters or providing a balanced response for a defendant to a proceeds of crime confiscation. At the other end of … Read more…

Hawala Update

Hawala Banking Expert Mark Jenner & Co Limited continues to receive several instructions each year as forensic accountants where the issue of Hawala Banking is central to the matter.  In fact, Hawala has become a much overused term, with the … Read more…

Legitimate Hawala Banking Or Money Laundering?

Hawala Banking is an overused term given to an area of money transmission activity that predates conventional Western style banking. It is responsible for the global movement of funds on a massive scale, measured annually in £100s of billions. Therefore, … Read more…

Hawala Banking Regulation In The UK

A properly established and regulated money transfer business must register with HMRC in order to comply with UK Money Laundering Regulations.  This is not a costly exercise but of course brings the business under the scrutiny of the authorities. In … Read more…

How Does The Hawala Banking Mechanism Work?

Mark Jenner & Co has wide experience of dealing with cases involving Hawala Banking. Therefore, it is able to approach any case where some or all of the transactions subject of the fraud, money laundering or other crimes involve alternative … Read more…