We spoke to author Nicholas Ryder about his fascinating and recently published title, The Financial War On Terrorism and the contemporary issues that helped shape this insightful monograph.
Dr Nicholas Ryder is a Reader in Law and Head of the Commercial Law Research Unit at the University of the West of England. His research interests are financial crime. He has published articles in the Cambridge Law Journal, Legal Studies, the Journal of Business Law and the Journal of Consumer Policy.
He has published three monographs with Routledge Law: The Financial War On Terrorism, Fighting Financial Crime in the Global Economic Crisis, Money Laundering – An Endless Cycle? and one upcoming title due to publish later this year : The Financial Crisis and White Collar Crime - Legislative and Policy Responses. He is also the founder and series editor of Routledge Law's 'The Law Relating to Financial Crime Series', as well as being a member of several editorial boards and serving as a contributing editor across the publishing sphere.
His research has been sponsored by Economic and Social Research Council, the City of London Police Force, ICT Wilmington Risk & Compliance, Universities South West, France Telecom Group and the European Social Fund.
1) Q: Congratulations on the publication of your book ‘The Financial War on Terrorism’. What led you to writing it?
I decided to write the monograph as I had previously published research on the financing of terrorism in 2007 and I felt that it was time to conduct a more in-depth review of the subject matter. The new monograph was also heavily influenced by recent activities of several terrorist groups including Al Shabaab and ISIL.
2) Q: Your book touches on some very interesting and contemporary issues – who would be interested in reading it?
I think the book would be an interesting read for interested researchers, practitioners and policy makers. The book provides a contemporary review of the impact of the ‘Financial War on Terrorism’ and its implementation over a decade after the terrorist attacks in the United States in September 2001.
3) Q: I mentioned that the book touches on contemporary issues, ones that currently dominate our political sphere. What relevant world issues do you feel your book relates to?
I feel that the book relates to the modern day threat posed by terrorism and how it is financed. The book relates to the threat posed by Islamic State and its ability to exploit a vast array of funding sources.
4) Q: What was the most unusual reading which you curated for this book?
It was the contents of chapter six, that concentrated on the potential impact of the financial war on terrorism on three carefully selected terrorist groups.
5) Q: Your book looks to the ‘War on Terrorism’ as an example, how do you feel counter-terrorist financing strategies have changed or developed in the last decade or so?
The book concludes that the ‘Financial War on Terrorism’ hasn’t changed over the last decade and it has failed to keep pace with how terrorists groups are financed.
6) Q: Do you have a favourite chapter that you particularly enjoyed reading?
I enjoyed reading chapter 2, which defined the ‘Financial War on Terrorism’.
The volume features contributions from internationally renowned academic and practitioner experts in the field who pinpoint some of the most important facets of financial crime which have emerged over recent years. Key subjects include: the possibility of criminalising reckless risk-taking on the financial markets; the duty of banks to prevent money-laundering and corruption; the growth of the Shadow Banking System; and the manipulation of LIBOR by banks.
Looking at the instruments and proposals put in place by a number of institutions including the United Nations (UN), the Financial Action Task Force (FATF) and the European Union, the book begins by reclassifying and expanding the traditional global anti-laundering policy to include aspects such as having a national money laundering strategy in place, the implementation of international instruments and the role of government and regulatory agencies.
Taking a comparative approach, the book highlights the levels of compliance in each selected jurisdiction and organisation with the requirements of the ‘Financial War on Terrorism’. The book analyses measures introduced by the United Nations, including the UN sanctions against terrorists and the operation of its anti-terrorist sanctions committees, and the Recommendations of the Financial Action Task Force. It also reviews the counter-terrorist financing measures of the European Union and the Council of Europe, paying particular attention to the Framework Decisions on Combating Terrorism, the Council Common Positions on Combating Terrorism and the EU Anti-Terrorism Sanctions Regime. The book goes on to review the measures put in place in the US following September 11, 2001.
This series is Routledge's first series dedicated to the law of financial, or economic, crime and offers a platform for important and original research in this area. It aims to cover traditional subjects of financial crime including money laundering, terrorist financing, fraud, market abuse, insider dealing, market manipulation, tax evasion, bribery and corruption.
The Financial War On Terrorism is part of this series.
This book offers a commentary on the responses to white collar crime since the financial crisis. The book brings together experts from academia and practice to analyses the legal and policy responses which have been put in place following the 2008 financial crisis.
Complimentary review copies of all the titles mentioned are available to those who would like to write a review for these books,which will be included in a Journal or similar publication. Request your copy by emailing email@example.com.