Terrorists manipulate bourses to raise funds

Terrorists manipulate bourses to raise funds
PTI
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First Published: Thu, Feb 15 2007. 03 38 AM IST
Updated: Thu, Feb 15 2007. 03 38 AM IST
New Delhi: Manipulation of stock exchanges is the new modus operandi used by terrorist groups to raise funds for their operations, and fictitious companies have operated in the Mumbai and Chennai stock exchanges. National security advisor M. K. Narayananhas said some of these companies were later traced to terrorist groups.
“Isolated instances of terrorist outfits manipulating the stock markets to raise funds for their operations have been reported. Stock exchanges in Mumbai and Chennai have, on occasions, reported that fictitious or notional companies were engaging in stock market operations,” he said while addressing the 43rd Conference on Security Policy in Munich last week.
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First Published: Thu, Feb 15 2007. 03 38 AM IST