【正文】 st prior to the declaration of39。外文題目： Informal and Formal Money Transfer: Financial Service or Financial 出 處： International Journal of Sociology and Social Policy 作 者： Shahid Nawaz,Roddy McKinnon and Robert Webb 原 文： Informal and Formal Money Transfer: Financial Service or Financial Crime Shahid Nawaz,Roddy McKinnon and Robert Webb INTRODUCTION Prior to the events of 11th September,2020,international cooperation in the field of global financial crime prevention was already well by separate initiatives led by the United Nations Organisation and the Basel Committee inthe late 1980s,the creation in 1989 of the Financial Action Task Force on Money Laundering(FATF) by the G7 countries set in place an international body to coordinate antimoney laundering measures across 26 countries and ,and prompted by the creation of the FATF,other regional interstate organisations in western and eastern Europe,across the Americas and the Caribbean,and also in Asia,have drafted similar antimoney laundering standards for their respective countries In turn,these interstate regulatory initiatives havebeen plemented by parallel business led voluntary initiatives,such as the example of the Wolfs berg AntiMoney Laundering Principles designed to promote greater transparency across the banking sector. The core policy objectives of the FATF and the subsequent regional offshoots and business led initiatives has been to improve the effectiveness of criminal justice systems,devise efficient financial system regulations and follow these with effective law enforcement in order to bat money laundering ,bating increasingly transnational money laundering activities presents significant regulatory and law enforcement Moulette has reported,citing figures from the IMF,39。 works39。 type 39。clean39。war39。ien,literally39。,it is impossible to overlook the heavy element of irony that this term conveys. All IMTNs share a mon set of operational characteristics,namely,a39。chit or chop system of East and Southeast Asia,the black market peso exchange(BMPE)system of Latin America,and the hawala system,with its 39。 remittance services between France and North Africa,Spain and the Spanish 39。. More specifically,however,IMTNs can also be understood in the wider context of what is variously referred to,and often somewhat pejoratively,as 39。,39。residual39。s scarce resources better,increase productive efficiency and thus aid in increasing economic growth and standards of ,those financial institutions that operate in the developed and formal financial systems undertake their role with consideration of an expected risk return tradeoff,which is calculable and based on past contrast,the nature of business conducted by those players involved in IMTNs implies that they will,more often than not, 39。business which is estimated globally to be worth around US$50bn per annum. From another perspective,IMTNs can be presented as being a structural response to information asymmetries in the financial services marketplace and a necessary feature of segmented financial systems. The problem of asymmetric or inplete information flows was first introduced in the seminal work of Akerlor and considered in a financial institutions setting by,among others,Santomero, Campbell and Kracaw and Diamond. The significance of asymmetric information,however,is especially important to the continuing relevance of IMTNs because these markets are utilised predominantly by those marginalised consumers,including the poor,who are ignored by formal financial institutions because of heightened uncertainty and risk. As a result,the wider appeal of IMTNs stretches further than being a financial service for marginalised financial services consumers India,for example,it is suggested that 50 percent of national economic activity makes some use of the hawala system. This leads to the conclusion that IMTNs in India and elsewhere are not only used by the poor but also by relatively rich individuals to transfer cash lump sums,or other assets,quickly and relatively cheaply to family members or associates who live some considerable distance away. Two other important reasons which help explain the continuing use and growth of IMTNs by those that would normally have access to the formal financial system are that IMTNs avoid the additional costs that formal institutions bring and