Securitising money to counter terrorist finance: some unintended consequences for developing economies

Research output: Contribution to journalArticlepeer-review

10 Citations (Scopus)
2 Downloads (Pure)

Abstract

With its roots in the “war on drugs” and the criminalization of money laundering, the global initiative to combat the financing of terrorism (CFT) provides one strategy for preventing and preempting terrorist attacks. In public pronouncements, terrorist finance was named the “lifeblood” and “oxygen” for terrorism itself, thus displaying an analogy suggesting that its mere removal could bring an end to terrorism. Following the theoretical perspective of the Copenhagen School of security studies, this paper argues that national and international measures against terrorist finance constitute the “securitization” of money. By situating money as the essential component to an existential threat, it was possible to justify extraordinary measures to monitor financial transactions. These measures produced unintended consequences prompting resistance and an evolution of procedures to reduce those consequences. This paper considers two affected areas (migrant remittances and financial inclusion) and points to the potential use of financial surveillance against grand corruption.

Original languageEnglish
Pages (from-to)406 - 422
JournalInternational Studies Perspectives
Volume16
Issue number4
DOIs
Publication statusPublished - 1 Nov 2015

Keywords

  • Terrorist finance
  • Securitisation
  • Development

Fingerprint

Dive into the research topics of 'Securitising money to counter terrorist finance: some unintended consequences for developing economies'. Together they form a unique fingerprint.

Cite this