Hawala is a Money Service Business, a term coined by the UK Authorities such as HMRC. It 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 frequent abuse by money laundering gangs and its popularity with many 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.
How can a money transfer system known as Hawala be a threat? The UK is at the forefront in the battle against economic crime. It has a better understanding of… Read More »HAWALA – CAN IT THREATEN OUR FINANCIAL SAFETY?
Looking for a cheaper quicker alternative to transfer money is natural, until the cash is seized by the authorities
Almost every forensic accounting case handled by Mark Jenner & Co Limited will involve some money laundering threats. It is the backbone of every fraud and financial crime that is… Read More »Money Laundering Threats – A Danger To Legitimate Business
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)… Read More »What Is The Problem With Hawala?
The recent acquittal by a jury of a defendant for whom I had prepared an expert report highlights how important it is to counter the Crown’s case with an independent… Read More »The Importance Of Independent Expert Forensic Accounting In Hawala Cases
Hawala is the overused title given to the massively popular global alternative money transfer system used by many ethnic communities around the world. Billions are transferred from the West by… Read More »Expert Evaluation In Alternative Money Transfer Cases
Hawala has grown out of historic methods for moving money that were being developed long before the establishment of the western banking system
For more than 20 years I have been receiving money laundering instructions on matters involving Hawala
As forensic accountants with considerable experience in dealing with cases involving Money Service Businesses such as Hawala, we are often faced with the situation where a defendant is accused of… Read More »The Challenge of Defending Money Laundering Allegations Involving Hawala Banking
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… Read More »Legitimate Hawala Banking Or Money Laundering?
