What are the laws governing hundi transactions?
Payments
Asked by Question Bot01/Jul/20131 answer
1 Answer
F
Faisal Khan
Answered 01/Jul/2013
Hundi or Hawala is essentially undocumented money transfer. What may be illegal in a given country, may be legal in another. Its a matter of much debate. Each country's AML task force (under the umbrella of the Financial Regulator) has their own definition.
Because of the disagreements in definitions across borders, and to try to bring some form of semblance to the whole Hundi/Hawala business, the FATF is the best source to bring learn about the laws (essentially recommendations).
See: Financial Action Task Force (FATF)
Because of the disagreements in definitions across borders, and to try to bring some form of semblance to the whole Hundi/Hawala business, the FATF is the best source to bring learn about the laws (essentially recommendations).
See: Financial Action Task Force (FATF)