L’istituto islamico dell’hawala e il riciclaggio di denaro: le nuove sfide per la legislazione finanziaria dell’Unione europea

Hawala systems are informal banking arrangements that allow the transfer of funds without using formal financial institutions. Hawala plays a role in facilitating remittances both domestically and internationally, especially those of migrant workers. Like any other informal remittance system, hawala systems play a key role in money laundering. The paper presents the features that make hawala attractive for legitimate and illegitimate uses and takes into consideration the application of the EU anti-money laundering legislation.