Terror, crime financing cases more than double in 2009

Sunday 27th of December 2009 04:10:30 AM


Terror, crime financing cases more than double in 2009




Neelabh Srivastava New Delhi, Dec 27 (PTI) Financial transactions relating to crime and terror as also the menace of fake currency notes spread like weeds in 2009, mainly through the nation''s banking channels.Effective employment of the anti-money laundering mechanism by India, which vowed to fight tax havens and black-money, helped detect over 4,000 suspicious financial transactions relating to crime and terror more than double the numbers reported last year.

It also found more than 35,000 cases of counterfeit currency being transacted through banking channels.A total of 4,409 suspicious transactions were reported to the Finance Ministry by banks (2,826), financial institutions (841) and intermediaries (742) taking the number of such reports to more than double of 1,916 transactions reported last year, according to an official report submitted to the Finance Ministry.

The instances of fake currency received by various categories of banks rose to more than four times as 35,730 reports were registered and sent to the government.During 2007-08 such reports were a mere 8,580.

The report said the fake currency hence reported till March 2009 by the banks had a face value of over Rs seven crore..

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