"Huge unlawful funds which accrue from smuggling, fake currency, black money and hawala transactions are utilised by organised crime groups and mafia networks to foster illegal trade in arms and drugs and fund terrorist activities, all of which generate serious security related problems worldwide," Vohra said yesterday.
Speaking at a seminar on 'Curbing Counterfeiting and Smuggling? An Imperative for Indian Economy,' Vohra said, "These criminal offences adversely affect rights and interests of individuals, damage interests of growers, producers, manufacturers and traders, cause loss of revenue to the public exchequer, and pose a serious threat to the security of the state and the country.
He said Jammu and Kashmir is already faced with serious problem of terrorist networks being funded through circulation of fake Indian currency.
Noting that over 12 million tourists and pilgrims visiting the state every year make significant purchases, he said, "Even if a small percentage of visitors are cheated and sold spurious goods there would be damage to reputation of the state as the most attractive tourist destination".
Srinagar: Voicing concern over crime groups using illegal funds generated from smuggling, fake currency and hawala racket to fund terror activities, Jammu and Kashmir Governor N N Vohra Friday said awareness should be created among the people on the danger posed by it.
First Published: Friday, September 14, 2012, 13:17