On September 21, top sleuths of the country’s intelligence and investigative agencies, under the auspices of the Union home ministry, will meet to deliberate on ways to better India’s preparedness to deal with terror financing and money laundering. This is an effort to prevent a repeat of a terrorist act like the 26/11 Mumbai attacks.
“The meeting is a summation of what measures are in place to stifle finances for terror acts and what more can be done. A status report on India’s Counter Terror Financing/Anti Money Laundering (CTF/AML) mechanism will also be finalised, which will be presented to the Financial Action Task Force (FATF) when its team visits India in October. The meeting will al .. so focus on India’s measures against the misuse of non-profit organisations (NPOs) and charities,” a senior government official told HT.
“The meeting will have top officials from the National Investigative Agency, Intelligence Bureau, Research and Analysis Wing, Enforcement Directorate, Central Bureau of Investigation and state police special counter-terrorism cells, besides the home ministry officials,” he added.
India’s CTF plan is modelled largely on the shortcomings encountered during the investigations into the 26/11 attack, which included movement of funds from foreign shores to India and Pakistan.
The attack’s major expenses included financing terrorist David Headley’s surveillance trips to India, setting up a command and control centre in Karachi to coordinate the attack, paying for machinery and an entire range of weapons, training the men, and other logistical payments.
The Paris-headquartered FATF, of which India is a member, is an inter-governmental coordinating agency set up in 1989.
The agency has laid down a comprehensive list of 40 recommendations that countries should implement in order to combat money laundering, and financing of terrorists and proliferation of weapons of mass destruction.