Unconventional monetary instruments of terrorism financing = Нетрадиційні грошові інструменти фінансування тероризму

Abstract

Before the full-scale invasion of the rf in Ukraine, money laundering and terrorist financing using non-traditional monetary instruments, such as cryptocurrency or hawala, was not considered at the level of public administration as a threat to the country’s national security. However, the presence in the Ukrainian financial market of informal credit and settlement systems such as hawala and virtual cryptocurrencies such as bitcoin allow huge cash flows to circulate unchecked by the state in the shadow sector of the national economy, including being directed to the financing of terrorist organizations or for the commission of illegal, subversive actions by collaborators on the controlled territory. It was expedient to pay attention to these threats back in 2014, when funds were actively transferred to Ukraine from non-controlled regions, as well as from the aggressor country. Funds were mainly transferred using cryptocurrency from the occupied territories of the LNR and DNR, as well as from the russian federation