FinTech, terrorism-related fund transfers and behavioural finance

Phillips, Peter J. and McDermid, Benjamin (2020) FinTech, terrorism-related fund transfers and behavioural finance. Dynamics of Asymmetric Conflict: Pathways Toward Terrorism and Genocide. ISSN 1746-7586


Abstract

The arrival of 'FinTech' – non-bank companies offering financial services through new technology – has changed the regulatory landscape of the financial markets. This is especially the case in the funds transfer market. While terrorist finance might have once been more at risk of detection in some jurisdictions than others, FinTech threatens to bring about a levelling of risk across jurisdictions. To what extent, though, do we expect decision-makers engaged in transferring funds for terrorism to switch seamlessly in response to changes in risk? Because terrorist finance requires choice under risk and uncertainty, it may be characterized by systematic patterns of error deriving from human decision-making processes. These errors cause delays, or 'stickiness' in adaptation to new conditions and may provide openings for counter-terrorist finance (CTF).


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Published online: 14 September 2020. Permanent restricted access to ArticleFirst version, in accordance with the copyright policy of the publisher.
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Date Deposited: 23 Oct 2020 03:00
Last Modified: 27 Oct 2020 05:55
Uncontrolled Keywords: FinTech, terrorist finance, counter-terrorist finance, behavioural finance
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150201 Finance
17 Psychology and Cognitive Sciences > 1702 Cognitive Sciences > 170202 Decision Making
15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl. Banking)
14 Economics > 1402 Applied Economics > 140207 Financial Economics
Socio-Economic Objectives (2008): A Defence > 81 Defence > 8101 Defence > 810107 National Security
A Defence > 81 Defence > 8101 Defence > 810105 Intelligence
C Society > 94 Law, Politics and Community Services > 9403 International Relations > 940301 Defence and Security Policy
C Society > 94 Law, Politics and Community Services > 9404 Justice and the Law > 940404 Law Enforcement
Identification Number or DOI: https://doi.org/10.1080/17467586.2020.1821074
URI: http://eprints.usq.edu.au/id/eprint/39960

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