Trysts or Terrorists? Financial Institutions and the Search for Bad Guys

41 Pages Posted: 15 Apr 2009 Last revised: 30 Apr 2009

See all articles by Richard K. Gordon

Richard K. Gordon

Case Western Reserve University School of Law

Abstract

Under international standards, financial institutions are required to freeze the accounts of customers identified by government as terrorists or the supporters of terrorism. Financial institutions are also required to monitor client transactions to determine if they suggest terrorism financing. However, financial institutions have been given little guidance as to when a pattern of transactions might suggest terrorism financing. By outsourcing the identification of such patters to financial institutions, governments have abdicated their responsibility and reduced the availability of financial services for clients who fit a popular but inaccurate profile of a terrorist.

Keywords: Financial Institutions, Terrorists, Patterns of Culpability

JEL Classification: K14, K23, K42

Suggested Citation

Gordon, Richard K., Trysts or Terrorists? Financial Institutions and the Search for Bad Guys. Wake Forest Law Review, Forthcoming; Case Legal Studies Research Paper No. 09-13. Available at SSRN: https://ssrn.com/abstract=1371600

Richard K. Gordon (Contact Author)

Case Western Reserve University School of Law ( email )

11075 East Boulevard
Cleveland, OH 44106-7148
United States

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