web analytics

Indian Government Freezes Terror Assets Valued At 2.12 Crore Rupees

indiaIndia has come down hard on money launderers during 2015 and has started a campaign to uncover and recover black money that has been stashed away abroad. The Indian government decided to step up its financial scrutiny in light of the terror attacks in Paris and recently announced that it has so far frozen more than three hundred thousand euros on charges filed by the Financial Action Task Force (FATF) that allege that these funds are being used to finance terrorist operations and interest financing.

During the recent G20 summit which was held in Turkey, most of the world leader’s including U.S. President Obama, Indian President Modi and Russian President Putin spoke about the growing threat of terrorism and the plans that can be implemented to stop these terrorist attacks.The Indian government decided to crackdown on fiscal policies and tighten its policies to ensure that ISIS finds it extremely difficult to get any financial leverage in India.

ISIS currently poses the biggest terrorist threat as the Islamic state has made it clear that it is deviating from its initial strategy which was to avoid international targets and focus onconsolidating its base in the middle east and setting up a Caliphate state. The recent Paris attacks have proved that ISIS is now implementing a new strategy with international targets in mind.

One of the main reasons for the rise of ISIS is because the terrorist group appears to be extremely well funded and there are rumors that some of the G20 countries have been sending across funds to ISIS.

While there is no proof to any of these accusations, it is widely suspected that ISIS has a number of wealthy supporters who all across the world who are happy to finance these terrorist campaigns from afar. India has frozen over 36 accounts which are suspected to have ties to terrorist organizations and around 2.12 crore rupees financial assets. If you looking for trusted forex brokers then have a look at our selected Indian Forex Brokers which we have rated and reviewed.

The FATA report said

In light of the growing threat of ISIL (Islamic State of in Iraq and the Levant) and other terrorist groups, 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


Related Articles

Six Year High Services PMI Data Keeps Euro Bullish

The EURGBP pair has been range bound between 0.8780 and 0.8930 for the past four months. The recovery in the

Concerns over Deutsche bank propel Swiss Franc

Lower than anticipated unemployment claims of 254,000 in the week ended September 24, and higher than expected GDP growth of

US Banks To Allow More Debt By Opening To Corporate Borrowers

Corporate borrowers have now become the biggest borrowers from US banks based on recent industry data from the Federal Reserve.