Page-2 of Terrorism financing
India seeks help of US and European countries to crack terror fund trail from Pakistan
India has approached United States (US) and select European countries part of the Financial Action Task Force (FATF) to crack terror fund trail details of the Al Rehmat Trust from Pakistan. Al Rehmat Trust is financer of terrorist outfit Jaish-e-Mohammad ..
Month: Current Affairs - August, 2016
Money Laundering: Meaning, Prevention and Laws
Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert the black money into white money are Money laundering. But in Money laundering, the ..
Banks to Create “Unique Customer Identification Code”
The RBI has asked all banks to generate a Unique Customer Identification Code (UCIC) for each of their customers. Objective: The Unique Identification Code will fortify Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing Of Terrorism (CFT) ..
Month: Current Affairs - June, 2012
India inks agreement with EAG to counter terrorist financing
India signed an agreement with the Eurasian Group (EAG) to inter-alia enhance cooperation in the areas of money laundering and terrorist financing. The Cabinet had approved the agreement earlier this month. A six-member Indian delegation led by Dr Mathew attended ..
Month: Current Affairs - January, 2012
Homogeneous KYC Regulation norms by Nov’11
SEBI to come out by Nov’11 Homogenous norms for setting up a uniform Know Your Customer (KYC) Regulation Authority. It will relieve the burden comparable on the intermediaries as well as the common man, seeking to make investments. This mechanism ..
Month: Current Affairs - December, 2011
Combating of Funding of Terrorist (CFT)
Combating of Funding of Terrorist (CFT) is a new cell formed by Union home ministry to focus on effectively dealing with funding of terrorist activities in the country. A Terror Funding and Fake Currency Cell in National Investigation Agency has ..