Conceptualizing terrorist financing in the age of uncertainty
| Date | 03 October 2016 |
| Published date | 03 October 2016 |
| Pages | 397-406 |
| DOI | https://doi.org/10.1108/JMLC-06-2015-0022 |
| Author | Zaiton Hamin,Rohana Othman,Normah Omar,Hayyum Suleikha Selamat |
| Subject Matter | Accounting & Finance,Financial risk/company failure,Financial compliance/regulation,Financial crime |
Conceptualizing terrorist
nancing in the age
of uncertainty
Zaiton Hamin
Faculty of Law, Universiti Teknologi MARA (UiTM), Shah Alam,
Selangor, Malaysia
Rohana Othman and Normah Omar
Accounting Research Institute, Universiti Teknologi MARA, Shah Alam,
Selangor, Malaysia, and
Hayyum Suleikha Selamat
Faculty of Law, Universiti Teknologi MARA (UiTM), Shah Alam,
Selangor, Malaysia
Abstract
Purpose – The purpose of this paper is to conceptualize the concept of terrorism, terrorism nancing,
the relationship between money laundering and terrorism nancing and the governance of terrorism
nancing.
Design/methodology/approach – This paper adopts a doctrinal, content analysis and secondary
data, of which the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 and the Penal Code
are the primary sources. The secondary sources for this paper include articles in academic journals,
books and online databases.
Findings – Several methods are involved in the commission of terrorism nancing such as raising,
moving and using of funds. The activities relating to terrorism nancing under the Penal Code are
broader than such activities. Despite the adherence by Malaysia to international policies established by
the Financial Action Task Force, terrorism nancing has remained a threat that must be addressed by
the relevant authorities.
Practical implications – This paper could be a useful source of information for the practitioners,
academicians, policymakers and students studying this particular area of crime.
Originality/value – This paper contributes to a discourse on terrorism nancing in the Malaysian
context.
Keywords Terrorism, Terrorism nancing, Money laundering, Governance
Paper type Conceptual paper
Introduction
Following the tragedy on September 11, 2001, terrorism activities have increased and have
become a threat to any nation’s security (London: Telegraph, 2008). It is apparent that
terrorism has led to the creation of several nancial crimes including money laundering and
terrorism nancing. Terrorist groups need funds for purchasing arms, covering operational
This research is supported by the Accounting Research Institute, the Ministry of Education and
the Faculty of Law, Universiti Teknologi MARA (UiTM) Shah Alam, Selangor, Malaysia.
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/1368-5201.htm
Age of
uncertainty
397
Journalof Money Laundering
Control
Vol.19 No. 4, 2016
pp.397-406
©Emerald Group Publishing Limited
1368-5201
DOI 10.1108/JMLC-06-2015-0022
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