07-19-2010, 03:07 AM
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' /> Banks and financial institutions submit STRs to the Finance Ministry's Financial Intelligence Unit (FIU) which forwards to other investigative agencies all reports suspected to involve terror funding and money laundering.
The Task Force report commented upon the misplaced confidence of Indian officials regarding the low risk of NPOs being used as conduits for terrorist financing.
"While Indian officials indicated that they believe the terror financing risk in the NPO sector is small, it is difficult to understand how they can maintain this confidence, in light of the fact that they were unable to state the size, wealth and activities of the majority of NPOs in India." http://www.expressindia.com/latest-news/...ssindia%29
' /> Banks and financial institutions submit STRs to the Finance Ministry's Financial Intelligence Unit (FIU) which forwards to other investigative agencies all reports suspected to involve terror funding and money laundering.The Task Force report commented upon the misplaced confidence of Indian officials regarding the low risk of NPOs being used as conduits for terrorist financing.
"While Indian officials indicated that they believe the terror financing risk in the NPO sector is small, it is difficult to understand how they can maintain this confidence, in light of the fact that they were unable to state the size, wealth and activities of the majority of NPOs in India." http://www.expressindia.com/latest-news/...ssindia%29