Making a Killing: States, Banks, and Terrorism

The international financial system is political, and Making a Killing explores the world of terrorist financing and the involvement of the international banking system. Ian Oxnevad argues that a bank's institutional link to a state will protect it from enforcement action for violations of anti-money laundering and counter-terrorism financing regulations, but these regulations are ineffective in preventing the financing of terrorism due to states' self-interest.

Format: Hardback
Length: 224 pages
Publication date: 15 October 2021
Publisher: McGill-Queen's University Press

The international financial system is a multifaceted entity that encompasses both economic and political dimensions. In the documentary film "Making a Killing," the focus is directed towards the often-overlooked realm of terrorist financing and the significant involvement of the international banking system. Recognizing the urgent need to address the threat posed by terrorist organizations in the aftermath of the 9/11 attacks, the international community has established a comprehensive framework of counterterrorist finance laws, policies, and institutions.

Ian Oxnevad, in his insightful analysis, argues that the institutional link of a bank to a state, whether it be through state ownership or strong state connections, provides protection against enforcement actions for violations of anti-money laundering and counter-terrorism financing regulations. However, the effectiveness of these regulations in preventing the financing of terrorism is questioned, as states prioritize their self-interest over the collective interest in combating terrorist financing.

"Making a Killing" aims to evaluate the effectiveness of the new laws and regulations implemented in response to the terrorist financing threat. It also seeks to identify best practices for future endeavors to counter this critical issue. By delving into the complex dynamics of terrorist financing, the film sheds light on the challenges faced by governments, financial institutions, and international organizations in combating the funding of terrorism.

The documentary highlights the role of the international banking system in facilitating the movement of funds for terrorist activities. It explores the various methods used by terrorist organizations, such as money laundering, hawala transactions, and the use of shell companies, to obscure their financial origins and avoid detection. The film also sheds light on the efforts of governments and international organizations to combat these methods and establish robust regulations to prevent terrorist financing.

One of the key themes explored in "Making a Killing" is the role of financial institutions in detecting and reporting suspicious transactions. The film highlights the importance of financial institutions adhering to strict anti-money laundering and counter-terrorism financing regulations and cooperating with law enforcement agencies to prevent the financing of terrorism. However, the film also points out the challenges faced by financial institutions in identifying and reporting suspicious transactions, particularly in the case of complex and transnational financial networks.

The documentary also examines the political dimensions of terrorist financing. It explores the relationships between states, terrorist organizations, and the international financial system, and how these relationships influence the funding and support of terrorist activities. The film highlights the role of state sponsors of terrorism, the use of sovereign organizations as a tool for state projection, and the impact of international sanctions and counter-terrorism measures on the financing of terrorism.

In conclusion, "Making a Killing" is a thought-provoking documentary that sheds light on the complex world of terrorist financing and the significant involvement of the international banking system. The film provides valuable insights into the challenges faced by governments, financial institutions, and international organizations in combating the funding of terrorism. By connecting the fields of security studies, political economy, and finance, Ian Oxnevad offers a comprehensive analysis of the institutional link between banks and states and its implications for the prevention of terrorist financing. The documentary serves as a call to action for policymakers, financial institutions, and individuals to work together to strengthen the global fight against terrorism and ensure that the international financial system is not used as a platform for the funding of terrorist activities.

Weight: 470g
Dimension: 161 x 236 x 22 (mm)
ISBN-13: 9780228008767