Hackers in Germany claimed (without providing proof) to
have infiltrated Hawala-related bank accounts.
The problem is that banks and financial institutions - and not only
in dodgy offshore havens ("black holes" in the lingo) - clam up and
refuse to divulge information about their clients. Banking is
largely a matter of fragile trust between bank and customer and
tight secrecy. Bankers are reluctant to undermine either. Banks use
mainframe computers which can rarely be hacked through cyberspace
and can be compromised only physically in close co-operation with
insiders. The shadier the bank - the more formidable its digital
defenses.
The use of numbered accounts (outlawed in Austria, for instance,
only recently) and pseudonyms (still possible in Lichtenstein)
complicates matters. Bin Laden's accounts are unlikely to bear his
name. He has collaborators.
Hawala networks are often used to launder money, or to evade taxes.
Even when employed for legitimate purposes, to diversify the risk
involved in the transfer of large sums, Hawaladars apply techniques
borrowed from money laundering. Deposits are fragmented and wired to
hundreds of banks the world over ("starburst"). Sometimes, the money
ends up in the account of origin ("boomerang").
Hence the focus on payment clearing and settlement systems.
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