Government has begun processes on a war footing to trace the source of at least Rs 2,000 crore detected in over 200 bank accounts during the current fiscal as the amount was believed to have been used for financing terror networks in India.
Financial Intelligence Unit (FIU),which has marked more than 200 transactions in the country as terror financed,was trying ascertain the origin of these funds,sources in Finance Ministry said.
In certain cases,a number of Cash Transaction Reports (CTR) shown as investment in India was routed through countries like Bahamas,Mauritius,Cooks Island and Gulf,considered as tax havens.
The FIU has forwarded these suspicious transaction Reports (STR) to other investigative and enforcement agencies of the country including Intelligence Bureau and Income Tax for necessary action.
A request for facilitating assistance in probing the accounts have been sent to almost 30 countries during 2008-09 so that international networks financing terror modules in the country,if any,could be exposed,the sources said.
The agency carried out the exercise to trace suspicious transactions under its ‘Combating Financing of Terrorism (CFT)’,started in the aftermath of 9/11 terror strikes in the United States after it was found that part of money was wired by militants having their bases in India.