Home Ministry asks security agencies to launch coordinated action against terror funding

Home Ministry has asked security agencies to chalk out plans for a joint offensive against terror financing and money laundering.

New Delhi: Worried over "lack of coordination" among different security agencies, the Home Ministry has asked them to chalk out plans for a joint offensive against terror financing and money laundering.

The issue was discussed threadbare at a high-level meeting, convened by Union home secretary Rajiv Mehrishi, and attended by representatives of the Intelligence Bureau, NIA, CBI, besides others.

"The government is worried over lack of coordination. It wants better coordination among different agencies and joint action against terror financing and money laundering," an official privy to the development said.

The move came as part of the mandate of Paris- headquartered Financial Action Task Force (FATF), an inter- governmental body.

The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terror financing and other related threats to the integrity of the international financial system.