Edward Snowden and government data mining; and hiding assets in the hawala informal banking system:
- Whistleblower Edward Snowden is facing espionage charges in the U.S. District Court for the Eastern District of Virginia. The Washington Post too reports that Mr. Snowden is believed to have “fled Hong Kong for Moscow…” and Bloomberg.com says he requested asylum in Ecuador. Mr. Snowden blew the whistle on U.S. government surveillance through the PRISM data-mining program. As revealed by “Government Data Mining & An Asset Search”, the U.S. government had earlier data mined in various ways.
- Locating hidden assets can be especially difficult if informal banking systems like hawala have been utilized. “The Hawala Alternative Remittance System and its Role in Money Laundering”¹ explains that hawaladars, (a.k.a hawala operators), secretly transfer funds to financial accounts maintained in Switzerland, Dubai, the United Kingdom and / or other international financial centers. The following money laundering typology² describes how one hawaladar secretly transferred money in a possible terrorist financing scheme:
¹The Hawala Alternative Remittance System and its Role in Money Laundering, Courtesy of FinCEN.
²Money Laundering Typology / Case Ref: 06060, Courtesy of The Egmont Group.
Copyright 2013 Fred L. Abrams