Money Invested by Terrorists in Share MarketThe financing operations in
the stock markets are carried out through banking channels. The nature
of the funds flowing into the stock markets would be reflected in the
accounts opened with the banks together with the customer due diligence
(CDD) norms applicable to such accounts. In addition, Securities and
Exchange Board of India (SEBI) registered intermediaries are required to
follow stringent Know Your Customer (KYC) norms on an ongoing basis and
are also required to file Suspicious Transaction Reports (STRs) to the
Financial Intelligence Unit (FIU) in case of suspicious activities of
their clients.
As of now, no specific inputs that terrorists are investing money in share market and earning profits have been received from Securities Market Intermediaries. However, the STRs received from Securities Market Intermediaries suspected to be linked to financing of terrorism is subject to detailed assessment and examination by Central Intelligence and Investigation Agencies. This is a continuous / ongoing process.
This was stated by Shri R.P.N.Singh, Minister of State in the Ministry of Home Affairs in written reply to a question by Sh. Ravi Shankar Prasad in the Rajya Sabha today. – www.pib.nic.in
As of now, no specific inputs that terrorists are investing money in share market and earning profits have been received from Securities Market Intermediaries. However, the STRs received from Securities Market Intermediaries suspected to be linked to financing of terrorism is subject to detailed assessment and examination by Central Intelligence and Investigation Agencies. This is a continuous / ongoing process.
This was stated by Shri R.P.N.Singh, Minister of State in the Ministry of Home Affairs in written reply to a question by Sh. Ravi Shankar Prasad in the Rajya Sabha today. – www.pib.nic.in
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