The Ministry of State for Home Affairs in India recently responded to the Lok Sabha’s questions about terror financing and counterfeit Indian currency. This article breaks down the measures taken to counteract these growing threats.
Strengthening the Provisions of the Unlawful Activities (Prevention) Act, 1967
In an attempt to eliminate the production, smuggling, and circulation of high-quality counterfeit Indian money, the government has made these activities a terrorist act under the Unlawful Activities (Prevention) Act, 1967. Furthermore, the scope of “proceeds of terrorism” now includes any property intended for use in terrorism. These amendments are part of an overall strategy to more effectively combat terror financing.
Formation of the Terror Funding and Fake Currency Cell
The government has established a Terror Funding and Fake Currency (TFFC) Cell within the National Investigation Agency (NIA). The purpose of this cell is to concentrate on the investigation of terrorism financing and fake currency cases. This focused approach enables a more in-depth study and analysis of the patterns and networks behind these illegal activities.
FICN Coordination Group
Considering that the Fake Indian Currency Notes (FICN) network is a major channel for terror financing in India, the Ministry of Home Affairs founded the FICN Coordination Group (FCORD). The group is responsible for sharing intelligence and information among the central and state security agencies. Its main goal is to counter the problem of counterfeit note circulation in India.
| Key Facts |
|---|
| Unlawful Activities (Prevention) Act was established in 1967. |
| Terror Funding and Fake Currency Cell is part of the National Investigation Agency. |
| FICN Coordination Group was formed by the Ministry of Home Affairs. |
India-Bangladesh Memorandum of Understanding
In an international approach, India has signed a Memorandum of Understanding (MoU) with Bangladesh. The mutual agreement aims at preventing and countering the smuggling and circulation of fake currency notes. This collaboration underlines the international nature of the issue and the need for transnational cooperation.
Strengthening Security on International Borders
As a final measure, the government has tightened security along its international borders. This includes the use of new surveillance technology, deploying additional manpower for continuous surveillance, and setting up observation posts. There’s also the erection of border fencing and intensive patrolling. All these measures aim at creating a robust border control system to curb the illegal transit of counterfeit money and other contraband.