Govt to create centralised database to check terror funding

Last Updated: Sunday, March 7, 2010 - 20:53

New Delhi: The government has decided to set
up a `centralised database` to check terror funding by
integrating intelligence from different central security
agencies.

Sources in the Union Home Ministry said the proposed
database would act as a "ready reckoner" for different
security and law and order enforcement agencies to check
illegal routing of money through various financial channels
meant to further organised crime and support anti-national
activities.

They said the databank would be created to detect illegal
money movement within and outside the country and among
particular groups or institutions by means of banks or other
intermediaries.

There is no such consolidated data bank for collecting
and disseminating intelligence which, at times, creates
problem for the government to trace and later stop terror
funding.

The data bank would be created by the Financial
Intelligence Unit-India (FIU-IND) -- a central national agency
responsible for receiving, processing, analysing and
disseminating information relating to suspect financial
transactions.

A senior Home Ministry official said, "The government
proposes to set up a centralised database by integrating the
intelligence output relating to terror or terror funding of
various agencies under the Union government."

PTI



First Published: Sunday, March 7, 2010 - 20:53

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