"hawala": this clandestine banking system: This article explores the topic in depth.
Consequently,
". For example, hawala": this clandestine banking system:
Prized for criminal networks
“Hawala”, this clandestine banking system that thrives in Switzerland – "hawala": this clandestine banking system
This money transfer system, born in VIIIe century, worried the authorities because of its use by mafia networks.
In Zurich, a man was convicted of having transferred, via “Hawala”, 6 million francs from scams targeting seniors.
KEYSTONE
The hawala: This system is not illegal in itself, but its use poses serious problems. Similarly, A Watson investigation reveals that criminal networks are increasingly using it to transfer and whiten dirty money, also in Switzerland. Therefore, It must be said that this parallel banking circuit escapes the controls of the authorities.
Concretely. For example, an intermediary receives “hawala”: this clandestine banking system a sum in one country and manages to pay equivalent to another country, via verbal agreements and confidence networks. These transactions are often hidden within various shops, such as travel agencies or grocery stores.
In Zurich, a resident of Syrian origin was sentenced to two years in prison for money laundering, said Watson. He actually acted as hawaladar: He moved criminal funds against a 0.7%commission. Between 2020 and 2024, the man would have transferred abroad at least 6 million francs, notably from telephone scams targeting the elderly.
A system based on “confidence”
In 2022. the Lacernoise police dismantled an Albanian clan that turned drug money via a travel agency. In Geneva, a network managed by a broker and 27 “collectors” was discovered in 2017 during a seizure of 1.7 million in gold and liquid “hawala”: this clandestine banking system at the airport.
According to Alexander Ott, of the Bernese police, questioned by Watson, the “hawala is widespread but remains unknown. The system is based on confidence and clan loyalty, making interventions extremely difficult. ” Fedpol also alerts: theunderground banking gain the ground to move criminal heritage beyond borders.
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