10 cases of terror financing via stock mkt in last 3 fiscals

Written by: Pti
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Stock Market
New Delhi, Dec 16: The Financial Intelligence Unit (FIU) of the Finance Ministry has received information on ten suspected instances of terrorist financing using the stock exchanges in the last three financial years, Parliament was informed today (Dec 16).

The FIU received five Suspicious Transaction Reports (STRs) during the 2009-10 financial year, four during 2010-11 and a single case in the current fiscal (up to November), Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.

The STRs, "suspected to be linked to terrorist financing, (have been) received from intermediaries of stock market such as stockbrokers, asset management companies, etc, and disseminated to intelligence agencies by the FIU," Meena said.

He also said the STRs have been linked to money laundering. These cases will be investigated by the intelligence agencies, he said.

The FIU, is the national agency responsible for receiving, analysing and disseminating information related to suspect financial transactions.


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