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Terror Funding and Ineffective Indian Laws

Last month, India was admitted as the 34th member of The Financial Action Task Force (FATF). The FATF is an inter-governmental organisation founded in 1989 by the G7 concerned with developing policies to combat money laundering and terrorist financing.

The FATF has identified fund transfers from foreign Non Profit Organisations (NPOs), counterfeiting of currency, drug trafficking and extortion as "major sources for terrorist financing" in India.

Most NPOs (what we generally call NGOs) in India are subject to limited or no monitoring and supervision.

Several laws have been formulated in recent years, to monitor and counter terror funds and money laundering. However, there have been no money laundering convictions under these laws till date.

The FATF report commented upon the misplaced confidence of Indian officials regarding the low risk of NPOs being used as conduits for terrorist financing.

Misplaced confidence or wilful blindness?


Vinod_Sharma said...

Not willful blindness Manju, criminal blindness. All pillars of the state are busy conning India about the grave threat that the very well organised, planned, executed and funded "Hindu Terror" poses to this country. Till we are hit by a series of 26/11s, this will continue. Votes first, party second, India last.

BK Chowla, said...

Our priorities are different, our intentions are different and our objective is power without responsibility irrespective of means.To me it seems that most of Indian ngo get connected to some or the other politician, directly or indirectly.It is not difficult to plug money laundering, but there must be a political will.Dowe need some one to tell us about money in Swiss banks?A

Happy Kitten said...

Have been trying to post comments on India Tweet.. nd it is getting difficult...

Think if one can plug the money that funds terror, more than half the job is done.. but it is only the ordinary citizens who have this desire and not the one's who benefit from this in someway..

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