The informal financial network system (hawala) used in the Lake Chad Basin, which operates outside conventional banking regulations, is susceptible to illicit financial flows and is increasingly exploited by terrorists. By analysing its operational structure and intersections with criminal networks, and regulators’ enforcement challenges, this study fills a critical knowledge gap in financial crime research. It proposes policy recommendations to strengthen financial regulation and prevent exploitation by organised criminals.
About the authors
Dr Oluwole Ojewale is the ENACT Regional Organised Crime Observatory Coordinator for Central Africa at the Institute for Security Studies in Dakar, Senegal. His research interests span transnational organised crime, urban governance, security, conflict and resilience in Africa. At various times, he has undertaken studies and stakeholders’ engagements in Cameroon, Democratic Republic of the Congo, Gabon, Mali, Niger, Nigeria, Republic of the Congo, São Tomé and Príncipe, and Senegal.
Dr Raoul Sumo Tayo is a Senior Researcher in the ENACT programme, based in Yaoundé, Cameroon. Prior to joining the ISS, he worked for the Small Arms Surveys, the Center for Peace, Security and Integration Studies, the University of Maroua and the Centre for Strategic Studies and Innovations. Raoul’s research interests include borders, counterinsurgency, vigilantism and contemporary criminal threats.
Image credit: ISS
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