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Article: US money-transfer clampdown dismays immigrants: African and other developing world immigrants have used the tried and tested hawala system to send money back to their families for decades. Now they are under the cosh as US authorities clamp down in a bid to dry up funds for terrorists.(Dateline USA)
- Article from:
- African Business
- Article date:
- July 1, 2004
- Author:
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With large immigrant communities settling in the Washington and New York areas in recent times, the informal money-transmitting business--or hawalas in Arabic--has flourished. Often the only way for immigrants to send money back home, these private money-transmitting businesses have long been a thorn in the side of US federal authorities. The pressure to deal with them increased markedly after the 9/11 attacks on the World Trade Center.
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In April 2004, US Federal agents raided 17 Washington-based money businesses that allegedly had sent millions of dollars abroad without legal approval. Part of a nationwide crackdown aimed at ...