10 possible cases of terror financing via stock mkt

Financial Intelligence Unit (FIU) of Finance Ministry hints at possibility

PTI | December 16, 2011



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.

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.
 

Comments

 

Other News

El Niño threatens India’s Rabi crops

India’s southwest monsoon ended with a 13% rainfall deficit in 2026, its weakest performance in a decade, raising concerns over agricultural production, water security and the upcoming rabi season. With El Niño expected to persist into early 2027, experts warn that declining soil moisture, dep

Regulating the data advantage: India’s new e-Commerce framework

For over a decade, India’s e-commerce story has rested on a simple premise: platforms connect buyers and sellers, while data fuels efficiency, personalisation, and scale. However, as the market matured, its structure has revealed a growing imbalance. E-commerce platforms, especially marketplace ent

Changing weather patterns, climate change responsible for Nepal floods

The interaction between active Western Disturbances, increased atmospheric moisture and the region’s complex topography aswell as global warming are important factors behind intense rainfall in the Himalayas, leading to flash floods in Nepal, according to meteorologists. Nepal

A right she cannot reach

Last summer, the two of us spent several weeks in rural Madhya Pradesh with a non-profit that works on gender justice through women’s self-help groups. We went in with a notebook full of laws. The Protection of Women from Domestic Violence Act. The Dowry Prohibition Act. Free legal aid for every wo

Tier-2 cities lead India’s digital credit push

Digital payments have become a reflex for urban India, but the confidence earned in paying has not yet carried over to borrowing. That is the central finding of `How Urban India Pays Report 2026`, released by Pahlé India Foundation in collaboration with Amazon Pay. Based on a survey of 5,149 consu

India calls for doubling bilateral trade with UK by 2030

Commerce and industry minister Piyush Goyal has called upon businesses in India and the United Kingdom to translate the opportunities created by the India-UK Comprehensive Economic and Trade Agreement (CETA) into expanded trade, investment, partnerships and job creation. Addressing the Bu

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter