10 Questions
Hawalanders are always responsible for fulfilling their obligations and using funds for customers' benefit.
False
The hawala system is regulated by a central authority to prevent fraudulent practices.
False
The value of transfer through the hawala system is not affected by fluctuations in exchange rates or other market conditions.
False
The 2019 hawala case in the agricultural sector involved only Dutch potato and onion traders.
False
The surveyed agricultural product traders in the Netherlands reported accepting cash payments because of a well-functioning banking system with Mauritania.
False
The investigation found that the companies involved in the hawala case were not used to launder criminal money.
False
Underground banking involves making transactions through a formal banking system.
False
Hawala banking is a formal system of making transactions based on trust and government supervision.
False
Hawala banking is a relatively new system of making transactions.
False
The main reasons for using Hawala banking are to follow government regulations and to reduce the speed of transactions.
False
Explore the concept of Hawala banking, its origins, and its ongoing use today. This course delves into the risks associated with Hawala banking, including money laundering, terrorist financing, and sanctions violations. Learn from real-world examples and stay informed about this critical financial topic.
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