Since the Middle Ages, Hawala networks have practiced an off-the-books method of remittance that sidesteps traditional banks and regulators, relying instead on networks of brokers coordinating money transfers in a system underpinned by a strict honor code. Trust is the ultimate currency among Hawaladars. With roots in the Middle East, Asia and parts of Africa, Hawala networks have also spread to Europe, the Americas and elsewhere in recent years. The Hawala system is particularly popular among migrants transferring money to and from their families back home, and in regions underserved by traditional financial institutions, or where trust in established institutions is eroded. What is Hawala? While many use Hawala networks for legitimate transactions, Hawalas often function as international controller networks (ICNs), which are organized crime groups that specialize in laundering illegal funds across borders. They provide a professional service to criminals, helping them to hide the origin of their money and move it around the world without detection. ICNs, including Hawala and others such as underground Chinese banking networks, 1 have been increasingly co-opted in recent years by criminal and terrorist organizations wishing to evade authorities. 1 Executive Summary 6 About NEXYTE 2 The Hawala Problem 4 How Decision Intelligence Can Help 5 Key Decision Intelligence Capabilities 3 What is Hawala? 4