Ancient Secret System Moves Money
Ancient Secret System Moves Money Globally
Quetta, Pakistan, Oct. 2 — With nothing more than a telephone and a fax machine, Tarir Khan transfers money almost anywhere in the world — no questions asked, no names used and no trail for law enforcement to follow. Mr. Khan is a small cog in a far- reaching network of informal banking known as hawala, the Arabic word for trust. Although it is illegal in most countries, including here in Pakistan, authorities estimate that billions of dollars flow unseen by regulators through the hawala system worldwide.
A fascinating article. It's the real world equivalent of the anonymous digital currency long sought after by cypherpunks. Very, dare I say it, Pynchonesque.