Terror Funding

FATF praises India's PMLA, terror financing; asks to improve prosecution

Global anti-money laundering and terror financing body FATF on Thursday launched its much-awaited mutual evaluation report on India, saying the county's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases. The 368-page report was released after the assessment was adopted by the Paris-headquartered body at its June plenary meeting. The last such review of India's combating of money laundering and terror financing regime was published in 2010. The report, which comes after an on-site visit of FATF experts to India last November, has placed the country in the "regular follow up" category, a distinction shared by only four other G20 countries. India will undergo its next evaluation in 2031. The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects. It, however, said "major improvements" were required to strengthen the prosecution in money

Crime watchdog FATF to release mutual evaluation report of India on Sep 19

Global crime watchdog FATF will highlight the steps taken by India to counter terror financing and money laundering, and flag priority action areas in the 'mutual evaluation report' to be released on September 19, official sources said on Tuesday. The Financial Action Task Force (FATF) had in June adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category -- the highest rating given by the global watchdog and a distinction shared by only four other G20 countries. Countries rated under the 'regular follow-up category' are required to submit a follow-up report to the FATF once in three years on a voluntary basis. Out of 40 parameters looked into by the FATF, India received the highest rating in 37 parameters, official sources said. "Priority action points will be given by the FATF in the September 19 report," sources said, adding that on most of the parameters, India would be getting a positive rating in the report, while there would be f

Illegal online betting firms act as channels for money laundering: Report

Illegal online betting and gambling companies act as channels for money laundering and terrorist financing, said a report by Rashtriya Raksha Universty's The Security and Scientific Technical Research Association. IT Rules 2021 differentiates between permissible online real money gaming and illegal betting and gambling practices. Yet, the report suggested the need for a registration mechanism to whitelist legitimate online real money gaming platforms that operate in compliance with laws of India. "Illegal online gambling and betting applications expose Indian digital nagriks to several security risks like cybersecurity attacks and unsafe online environments. They have also emerged as a threat to India's national security because illegal online betting and gambling websites act as channels for money laundering and terrorist financing," The Security and Scientific Technical Research Association (SASTRA) report said. It said that the current legal and regulatory framework doesn't ...

Singapore gets tough on casinos in new measures to check terrorism funding

Casinos in Singapore will soon face tighter rules on conducting due diligence checks when receiving cash as part of updated measures to counter terrorism financing, the country's gambling regulatory body said on Monday. Due diligence checks will have to be carried out when casinos receive a cash deposit of SGD 4,000 (USD 2,950) or more into a customer's account - down from the current threshold of SGD 5,000. The new threshold for due diligence checks was among the measures laid out in Singapore's updated National Strategy for Countering the Financing of Terrorism, jointly published on Monday by the Ministry of Home Affairs (MHA), the Ministry of Finance (MOF) and the Monetary Authority of Singapore (MAS). "The adjustment is made so that Singapore casinos can better combat money laundering and terrorism financing and align our requirements with FATF standards," the Gambling Regulatory Authority (GRA) said. The Financial Action Task Force (FATF) is a global money laundering and ...

NIA agrees to let Engineer Rashid take oath as MP, court order on July 2

The National Investigation Agency (NIA) on Monday gave its consent for jailed Kashmiri leader Sheikh Abdul Rashid, known as Engineer Rashid, to take oath as MP on July 25. Additional Sessions Judge Chander Jit Singh will pass an order on the plea on Tuesday. Rashid, the MP from Baramulla who has been arrested in a 2017 Jammu and Kashmir terror funding case, had moved the court seeking interim bail, or custody parole in the alternative, to take oath and perform his parliamentary functions. A special court here on June 22 had adjourned the matter and asked the NIA to file its response. On Monday, the NIA's counsel said Rashid's oath taking be subject to some conditions like not speaking to the media. He also said Rashid must complete everything within a day. Rashid has been in jail since 2019 after he was charged by the NIA under the Unlawful Activities (Prevention) Act for his alleged involvement in a terror funding case. He is currently lodged in Tihar jail.

'Holds & blocks' in UNSC Sanctions Committees are disguised vetoes: Kamboj

In a veiled jibe at China, India has said that the "holds" placed on proposals in the UNSC sanctions committees are disguised vetoes on matters such as listing Pakistan-based global terrorists where some Council members will not take any responsibility. The working methods of anybody must respond to the challenges confronted by it. And the United Nations Security Council's record in measuring up to the mounting challenges has been abysmal, to say the least, India's Permanent Representative to the UN Ambassador Ruchira Kamboj said on Tuesday. Speaking in the UN General Assembly on the Second Anniversary of the unanimous adoption by UNGA of the Veto Initiative'- Strengthening of the UN System, Kamboj said that the Security Council has used its working methods to hide vetoes and disguise them under the ad hoc working methods of its committees which act on its behalf but have little accountability. Those of us familiar with the work of the Sanction Committees and its tradition of puttin

India, US to improve cooperation against money laundering, terror financing

The joint statement stated that the India-US AML/CFT Dialogue is an effective forum for both countries to share perspectives and best practises on how to strengthen the collective efforts

Assets of those named by UNSC for terror funding to be frozen within 24 hrs

Financial sanctions against entities named by the United Nations Security Council (UNSC) for their links to terrorism and terror financing should be imposed "without delay" and within 24 hours under the UAPA and a law against use of weapons of mass destruction, the government has directed regulatory and probe agencies. The Financial Intelligence Unit (FIU), the federal agency tasked to detect money laundering and black money in the country's economic channels, has been made the nodal agency for identifying, notifying and initiating legal action against such entities under section 12A of The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005, also known as the WMD Act. India, as per official records, enacted the law as per its commitment to the country specific efforts under UNSC resolution 1718 (2006) and 2231 (2015), and their successor resolutions, as mandated under section 2 of United Nations (Security Council) Act, 1947. The ...

SIA raids multiple locations in J-K, Delhi in terror funding case

The Jammu and Kashmir Police's Special Investigation Agency (SIA) on Wednesday raided multiple locations in the union territory and Delhi in connection with a terror funding case, the agency said. "Continuing with its endeavour to dismantle terror support systems in J&K, the SIA Kashmir conducted searches at houses and offices at 22 locations in J&K and Delhi," the investigating agency said. These locations include 18 in Srinagar, one each in Anantnag and Pulwama, and two in Delhi. "The pre-dawn searches were carried out simultaneously by special teams of the SIA. During the search operation, incriminating material in the shape of bank documents, cash books, credit cards, debit cards, cheque books, invoices, mobile phones, SIM cards and passports etc., was seized, which will be analysed for further investigation," the SIA said. The case pertains to illegal raising, layering and laundering of proceeds of crime by the accused persons. These proceeds of crime might subsequently ..

Terror ecosystem has to be destroyed, ruthless approach needed: Amit Shah

Union Home Minister Amit Shah Thursday said anti-terror agencies will have to adopt such ruthless approach that new terrorist organisations are not formed in the country. Addressing an anti-terror conference here, Shah also said not only terrorism, but the entire ecosystem of the terrorists has to be destroy. The home minister said tough decisions taken by the Modi government have yielded very good results in handling challenges posed by cryptocurrencies, hawala, terror-funding, organised crime syndicates and narco-terror links. Still a lot more is to be done, he said. "All anti-terror agencies will have to adopt such a ruthless approach that new terrorist organisations cannot be formed," he said. Shah said there is a need to not only combat terrorism but also dismantle its entire ecosystem, and for this "we must work with the spirit of the Whole of Government and Team India".

Brics nations reject 'double standards', vows to counter terrorism

The BRICS nations on Thursday rejected "double standards" in countering terrorism and vowed to work towards confronting the menace including cross-border movement of terrorists and terror financing networks. A declaration unveiled at the end of the three-day BRICS (Brazil, Russia, India, China, South Africa) summit said the leaders of the grouping called for an expeditious finalisation and adoption of the Comprehensive Convention on International Terrorism within the UN framework. The summit was chaired by South African President Cyril Ramaphosa and attended by Prime Minister Narendra Modi, Chinese President Xi Jinping and Brazil's Luiz Inacio Lula da Silva. Russian President Vladimir Putin joined it through video conference. "We are committed to combating terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and terrorism financing networks and safe havens," the declaration said. "We reiterate that terrorism should not be associated with

SIU raids several places in J-K's Kishtwar in terror funding case

The Special Investigative Unit of Jammu and Kashmir Police on Wednesday raided four locations in Kishtwar in a terror funding case, official sources said. The SIU is raiding the houses of terrorists who are currently operating from Pakistan, they said. The special force made raids in Jamia mohalla, Mallad, Kundari, and Sana, to collect evidence in terror funding cases.

Cost must be imposed on nations which aid terrorism, says PM Modi

Prime Minister Narendra Modi Friday said cost must be imposed on countries which aid terrorism as part of their foreign policy by providing political, ideological and financial support. Organisations and individuals that try to create sympathy for terrorists must also be isolated, he said addressing the third 'No Money for Terror Ministerial Conference on Counter-Terrorism Financing' hosted by the Ministry of Home Affairs. "There can be no ifs and buts interfering in such matters. The world needs to be united against all kinds of overt and covert backing of terrorism," Modi said. The prime minister said tactical gains against terrorists will soon be lost without a larger strategy aimed at hurting terror finances. "International organisations must not think that absence of war means peace. Proxy wars are also dangerous and violent. There must be a cost imposed on countries that support terrorism," the prime minister said. He said sovereign nations have a right to their own systems

Terrorism should not be linked to any religion, nationality or group: Shah

Union Home Minister Amit Shah Friday said financing of terrorism is more dangerous than terrorism the threat of which cannot and should not be linked to any religion, nationality or group. He also said that terrorists are constantly finding new ways to carry out violence, radicalise youth and raise financial resources and the darknet is being used by terrorists to spread radical content and conceal their identities. "Terrorism is, undoubtedly, the most serious threat to global peace and security. But I believe that the financing of terrorism is more dangerous than terrorism itself because the 'means and methods' of terrorism are nurtured from such funding. "Furthermore, financing of terrorism weakens the economy of countries of the world," Shah said addressing the third 'No Money for Terror Ministerial Conference on Counter-Terrorism Financing' hosted by the Ministry of Home Affairs here. He said, "we also recognise that the threat of terrorism cannot and should not be linked to an

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PM Modi to deliver inaugral address global meet on terror funding today

Prime Minister Narendra Modi on Friday will deliver the inaugural address at the third 'No Money for Terror' (NMFT) Ministerial Conference on Counter-Terrorism Financing

Social media platforms being used to raise funds for terror activities: NIA

India has evidence social media platforms are being used to raise terror funds, NIA Director General Dinkar Gupta said Thursday, underlining that the issue will be deliberated during a two-day international ministerial conference on countering terror financing. Addressing a press conference ahead of the meeting beginning Friday, Gupta also said Pakistan and Afghanistan were not participating in the conference, while China was yet to confirm. The third 'No Money for Terror Ministerial Conference on Counter-Terrorism Financing' hosted by the Ministry of Home Affairs will be inaugurated by Prime Minister Narendra Modi and attended by Union Home Minister Amit Shah, among others. Asked if Pakistan, China and Afghanistan were invited to the conference, Secretary (West), Ministry of External Affairs, Sanjay Verma said, "China has been invited." He, however, remained silent on the other two neighbouring countries. Giving details of the conference, Gupta made it clear that no country-specif

Pakistan 'lacks effectiveness' on four goals linked to FATF: Report

The Asia-Pacific Group of the FATF, a global watchdog for terror financing and money laundering, has rated Pakistan's level of effectiveness as low' on 10 out of 11 international goals on anti-money laundering and combating the financing of terror, a media report said on Tuesday. Asia-Pacific Group (APF), the Sydney-based regional affiliate of the Financial Action Task Force (FATF), released an update as of September 2 on the rating of its regional members suggesting that Pakistan had a moderate level of effectiveness' on only one out of 11 outcomes, reported Dawn. Under this immediate outcome', Pakistan extends international cooperation on appropriate information, financial intelligence, and evidence and facilitates action against criminals and their assets. A 15-member joint delegation of FATF and APG paid an onsite visit to Pakistan from August 29 to September 2 to verify the country's compliance with a 34-point action plan committed with FATF at the highest level in June 2018, t

Chhattisgarh Police arrest terror funding accused on run since 2013

The Chhattisgarh Police have arrested from Jharkhand a 41-year-old man allegedly involved in a terror funding case and absconding since 2013, an official said

Violence couldn't have been committed in J-K without Pak funding: NIA court

These funds were used to create unrest where under the guise of public protests, paid terror activities of stone-pelting and arson on a mass scale were committed, the court said in the order.