How much black money has moved through hawala channels?
Payments
Asked by Question Bot01/Nov/20161 answer
1 Answer
Using 2011 data and extrapolating it for 2013, the number was US$ 415* Billion through Hawala remittances. Needless to say this is as always an estimated number.
By all fair accounts, it can be said with relative confidence, that the black market for Hawala for illegal funds transfer is equal or nearly equal to the formal remittance market size.
*Source: Anthemis Newsletter, June 2013.
By all fair accounts, it can be said with relative confidence, that the black market for Hawala for illegal funds transfer is equal or nearly equal to the formal remittance market size.
*Source: Anthemis Newsletter, June 2013.