Forensic accounting: Crippling terrorists in the Philippines

• Main Authors: Gaw, Jolly Beth T., Ong, Christine J., Ong, Pauline J.
• Format: text
• Language: English
• Published: Animo Repository 2016
• Subjects: Forensic accounting > Philippines; Terrorism > Philippines > Prevention
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/7768
• Institution: De La Salle University

Nowadays, where terrorism is rampant and where people are suffering and many lives are lost from cruel terrorist acts, the Philippine governments position to stop these violent acts of terror should be put under serious scrutiny, for it seemed that the current counter-terrorism efforts can longer subdue the terror caused by these terrorist groups. And in an attempt to recommend an effective strategy to counter the serious threat of terrorism, this paper seeks to determine the possible benefits that forensic accountants can contribute in the effective implementation of The Terrorism Financing Prevention and Suppression Act of 2012 (RA 10168). With the increasing terrorist attacks worldwide, the Philippines has been actively countering terrorism in its territory. And, since money is essential to the survival of terrorist organizations, terrorist financing has been the main focus of various counter-terrorism efforts. With this, the Philippines began to implement laws that criminalize terrorist financing. However, the researchers found that there is a lack of forensic accountants in the Philippines that are involved in the investigation of terrorist financing. So, the researchers first established the importance of money to terrorists by using the resource mobilization theory by Edwards and McCarthy (2007). Second, determining the factors that influence the choice of financing method is viewed using Freemans (2014) Six Criteria of Terrorist Financing. From there, the researchers will look at terrorist financing from the lens of the Fraud Diamond Theory of Wolfe and Hermanson (2004) so as to ascertain the elements in which the forensic accountants could make a difference in. Subsequently, Freemans (2011) Sources of Terrorist Financing and Rotbergs (2013) Concept of a Weak State are used to discern the different financing methods that could be used by terrorists. Lastly, the researchers looked at the different techniques possessed by forensic accountants to determine how they can enhance the implementation of RA 10168.