'Intelligence Report On 41 Possible Terror Fundings'

Recently, INN exposed the possible terror funding through various channels in India in these columns, as an impact the minister of state for finance revealed the present scenario in rajya sabha today. 

As many as 41 Suspicion Transaction Reports (STRs) that could possibly be related to terrorist financing were disseminated by FIU-IND to different agencies in the nine months through December 2012, the Rajya Sabha was informed today.

The number of STRs disseminated by Financial Intelligence Unit-India (FIU-IND) to relevant agencies was 253 in 2011-12 and 259 in the previous year, Minister of State for Finance SS Planimanickam said in a written reply.

He further said that STR being only a suspicion, “whether it indicates a case of actual terror financing transaction and the amount involved therein cannot be ascertained at the stage of a STR”.

FIU-IND is the central, national agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions to enforcement agencies and foreign FIUs.

Meanwhile, replying to a query, Minister of State for Finance Namo Narain Meena informed the House that public sector banks reported 2,543 cases of fraud involving Rs 6,573.91 crore during April-December, 2012.

The banks had reported 3,392 fraud cases in 2011-12 involving about Rs 4,025.32 crore, and 3,718 incidents involving about Rs 2,569 crore in the previous fiscal.

In another reply, Meena informed that public sector banks have reported 1,138 accounts of willful defaulters (non-suit filed accounts). These accounts involve Rs 4,174.7 crore, including Rs 3,491.58 crore in State Bank Group.

RBI collects on quarterly basis, the information on Wilful Defaulters of Rs 25 lakh and above from banks. Also, the credit information companies are maintaining a database of suit filed accounts, including willful defaulters with Rs 25 lakh and above.