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Business News/ News / World/  Terror funds: India freezes accounts of over 3 dozen suspects
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Terror funds: India freezes accounts of over 3 dozen suspects

The body has conducted a mid-session review of various countries and economic powers in the wake of the increased terrorist activities

A file photo of Norway’s Prime Minister Erna Solberg and minister of finance Siv Jensen pay their respect to the victims of the Paris terror attacks at the French embassy in Oslo, Norway. Photo: AFPPremium
A file photo of Norway’s Prime Minister Erna Solberg and minister of finance Siv Jensen pay their respect to the victims of the Paris terror attacks at the French embassy in Oslo, Norway. Photo: AFP

New Delhi: India has frozen assets worth over 2.12 crore of over three dozen entities on charges of terrorist financing and money laundering of illicit funds, a latest report by the global anti-financial terror body Financial Action Task Force (FATF) said.

The body has conducted a mid-session review of various countries and economic powers of the world in the wake of the increased activities of the dreaded terrorist group, ISIS, around the globe.

As part of India’s initiative against suspect funds and those related to terrorism, the FATF report said that the country has frozen assets to the tune of 3 lakh euros belonging to 37 entities till 15 August this year.

India is a full-member of this reputed global body, along with other nations like the US, France, Germany and the United Kingdom.

“The FATF has taken a renewed focus on the global threat of terrorist financing and terrorism and conducted a fact-finding initiative to determine whether all jurisdictions in the global anti-money laundering and counter-terrorist financing network have implemented key measures to cut off terrorism-related financial flows, in accordance with the FATF recommendations," a report prepared in this regard for the perusal by G20 leaders said.

The G20 nations, including India, being represented by Prime Minister Narendra Modi in Turkey’s Antayla, last week had resolved to seek urgent and united global efforts to combat terrorism as the gruesome Paris attacks, war in Syria and the fight against Islamic State militants overshadowed the deliberations at the Summit.

The FATF is an inter-governmental body established in 1989 and it is mandated to set global protocols and standards to combat money laundering and other financial crimes with direct connections to terrorist actions across the globe.

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Published: 19 Nov 2015, 11:12 PM IST
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