Indo-US cooperation to crack terror funding

India and the United States have agreed to work together to crack the financial network and fund-raising activities of Pakistan based terror outfits and individual terrorists associated with these organisations under the framework of Indo-US (Ministry of Home Affairs and Department of Homeland Security) bilat- eral discussions.

Indo-US bilateral meeting held in October 2013 facilitated exchange of such information between concerned agencies of both the countries. India and the United States have agreed to have cooperation between their agencies in fighting against counterfeit currency and illegal financial transactions under the aegis of Indo-US Homeland Security dialogue. A sub-group on “illicit finance, illegal smuggling of cash, financial fraud and counterfeiting” has been formed to work with the areas of information exchange, capacity building and technical/research cooperation. US Homeland Security and Indian agencies are working together to investigate sources of material and technologies used in the production of FICN.

Financial Intelligence Unit-India (FIU-IND) and FinCEN (FIU of the USA) have also signed a memorandum of understanding (MoU) for cooperation and exchange of information in March 2010, as members of the Egmont Group of FIUs which covers as wide range of offences, including counterfeiting of currency and illegal financial transactions.

This was stated by R.P.N. Singh, Minister of State in the Ministry of Home Affairs, in a written reply to a question by M. Anandan in the Lok Sabha recently. SP