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Cryptoassets, social media platforms and defence against terrorism financing suspicious activity reports: a step into the regulatory unknown

Ryder, Nicholas

Authors



Abstract

This paper is divided into three parts. Firstly, the paper presents evidence how terrorism financiers are able to operate via the Internet and social media platforms. Secondly, it enhances the understanding of the use of Defence against Terrorism Financing (DATF) Suspicious Activity Reports (SARs) by highlighting the current weaknesses in the United Kingdom’s (UK) legislative approach. Thirdly, to consider the extension of ‘DATF’ SARs to payments made via social media platforms. The paper advocates that the exchange of information model between financial institutions, supervisory agencies and the National Crime Agency via the Joint Intelligence Money Laundering Task Force (JMLIT) must be extended to social media platforms.

Journal Article Type Article
Print ISSN 0021-9460
Publisher Sweet and Maxwell
Peer Reviewed Peer Reviewed
APA6 Citation Ryder, N. (in press). Cryptoassets, social media platforms and defence against terrorism financing suspicious activity reports: a step into the regulatory unknown. Journal of Business Law,
Keywords Terrorism financing, social media platforms and cryptoassets.