| Abstrakt: |
Hawala transactions have been prevalent in India and South Asia in one form or another for a long time. Operators of this illegal activity attracted little attention till it came to light that this mode of fund transfer was being used to fund terrorist activities in India and many other parts of the world. This paper focuses on the origin and growth of Hawala, its modus operandi, major cases and successes despite various flaws. The paper also throws light on the shortcomings in the legal, banking and commercial practices and the difficulties faced by the enforcement systems. [ABSTRACT FROM PUBLISHER] |
