Money Transfer Regulation and the Fight against Terrorism Related Activities in Cameroon

The world has of late witnessed a dramatic surge in terrorist activity. This, evidenced by the rampant use of unorthodox means to coerce governments or people to refrain from or adopt certain patterns of behaviour. Needless here to go into the semantics of definitions of who is and who is not a terrorist or terrorist act, actions whose ultimate objective is achieving the objective laid above is here considered to be a terror action. To achieve their objectives, the terrorists, need to operate like normal citizens in the society because to build up their acts they need normal services rendered by society for lawful purposes to attain their objective. They need to feed, move, buy equipment, train etc. all of these require the use of funds and movement of the funds from one location to the other. Again here not going into how they raise the funds, we are interested in this article on how they move the funds. Cameroon has suffered and is still under serious terrorist activity with not many amenities to combat this ill from all angles as it should. The sphere of transfer of funds in the country though regulated is heavily shrouded by anarchy and almost daily new tactics in moving funds that elude any possible detection by authorities. These methods range from physical transportation of cash by individuals, through travel agency transfers, electronic transfers to transfer for commission, etc. We discover that, the ever changing method of movement of funds in the country makes it difficult for tracking of terrorism related funds. This is exacerbated by endemic corruption and poverty that create fertile grounds for such fund movements. Lukong Alban Bongwong "Money Transfer Regulation and the Fight against Terrorism Related Activities in Cameroon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5 , August 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33109.pdf Paper Url :https://www.ijtsrd.com/other-scientific-research-area/other/33109/money-transfer-regulation-and-the-fight-against-terrorism-related-activities-in-cameroon/lukong-alban-bongwong