Terror Financing and Fake Indian Currency | 24 Jul 2019

In written replies to questions in the Lok Sabha, the Minister of State for Home Affairs mentioned steps taken to combat the menace of terror financing and fake Indian currency.

  • Strengthening the provisions in the Unlawful Activities (Prevention) Act, 1967
    • by criminalizing the production or smuggling or circulation of high quality counterfeit Indian currency as a terrorist act,
    • and enlarging the scope of proceeds of terrorism to include any property intended to be used for terrorism.
  • A Terror Funding and Fake Currency (TFFC) Cell has been constituted in National Investigation Agency (NIA) to conduct focused investigation of terror funding and fake currency cases.
  • FICN Coordination Group (FCORD): Fake Indian Currency Notes (FICN) network is one of the channels of terror financing in India. FICN Coordination Group (FCORD) has been formed by the Ministry of Home Affairs to share intelligence/information among the security agencies of the states/centre to counter the problem of circulation of fake currency notes.
  • Memorandum of Understanding (MoU) has been signed between India and Bangladesh to prevent and counter smuggling and circulation of fake currency notes. Also, security at the international borders has been strengthened by using new surveillance technology, deploying additional manpower for round the clock surveillance, establishing observation posts along the international border, erection of border fencing and intensive patrolling.

Source: PIB