ECONOMIC SCHEMES THAT ARE USED BY HAWALADARS (OPERATORS OF HAWALA SYSTEM) FOR EQUALIZATION OF MUTUAL OBLIGATIONS AND IMPLEMENTATION OF CUSTOMERS TRANSFERS

Abstract

In this article, the author, on the basis of the world experience, systematizes the economic schemes used by the "hawaladars" (operators of the "hawala" system) in the process of implementing traditional and modern models of money and value transfers within the "hawala" system. The author proposes the classification of these schemes taking into account the facts revealed in the world economy (including the shadow one) and structures the configuration of the mutual settlements that may be of practical interest in the state regulation of the "hawala" system and other similar money or value transfer systems and in implementing measures of "anti-laundering" legislation recommended by the FATF (Financial Action Task Force on Money Laundering).