Word: hawalas
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...allay police suspicions while he was crossing from Kashmir to Bangalore - even as he was bringing a cache of weapons in by train. When he ran out of money, his handlers arranged to have funds sent to him through India's unregulated network of cash-transfer, or hawala, traders. For the equivalent of $2, an Indian, who had bought the right to smuggle jackfruit across the Bangladesh border, arranged for him to cross without documents to that country's capital Dhaka, where he met with agents of Lashkar-e-Taiba (LeT), the group believed to have planned the Mumbai attacks...
Rather than governments trying to ban ransom payments - which could be futile - Costa suggests trying to choke off the flow of money pirates and kidnap gangs receive. "They may move some of their money offshore, using the hawala [underground banking] system and through third parties, particularly in financial centers where shipping companies are located." Costa and Clinton have also said that shipping and insurance companies should work on developing Somalia, rather than simply paying ransoms - a suggestion that insurance brokers reject. "It's not down to insurance companies to promote peace in Somalia," says Cooper Gay's Regester. "That...
...money using unofficial methods, including taking it home by hand. That money is never reported to tax officials, and appears on no records. One reason for the growth in recorded remittances has its origins in the global war on terrorism. To stop terrorist networks using informal transfer systems like hawala in Africa, the Middle East and South Asia (where it's referred to as hundi), European and U.S. officials have cracked down on them. That has shifted payments to easier-to-track official channels. Some migrants, however, still use methods that elude the bean counters. In Hong Kong, Endang Muna...
...said he would still lead the party's campaign for Dec. 1 polls in the state of Chhattisgarh in central India. Defending Judeo, BJP Deputy Prime Minister Lal Krishna Advani took defiance to daring new levels, declaring he once campaigned while facing charges of receiving $140,000 from the hawala system, an informal and illegal paperless banking network, and it hadn't done him any harm. He won the elections. "We stand on a high moral pedestal," proclaimed Advani...
Many migrant workers also use black-market currency traders. Known as hawala in the Middle East, hundi in India and fei chien ("flying money") in China, these unlicensed remittance networks were targeted by the U.S. after 9/11, because some had been used by al-Qaeda and other terrorist networks. The following month the U.S.A. Patriot Act made participating in these networks a felony, and the law has been used more than 20 times against alleged violators...