Local Goa News

Wednesday, November 16, 2016

Terror financiers feel the heat in Kashmir

Intelligence sleuths and counter-terrorism cops are working overtime to gauge the effect of demonetization on the financing of terror and unrest in the militancy-hit Jammu and Kashmir. Security forces are signalling that the finances to terror and civil unrest are showing signs of drying up.

"I have nothing to say, only financial experts can say on this…Common sense says it should benefit (in curbing the financing of anti-national activities). Time only will tell," SP Vaid, special director general of police, law and order, Jammu and Kashmir told DNA.

Terror financing has been a problem area for the security forces given the underhand dealings using different hawala and cross-border channels. Most of the money used to fund terror activities is being funneled through hawala channels.

Modus oprandi adopted by the militants include roping in the conduits who carry out legitimate transactions overseas. Terror financiers are paying these conduits in cash overseas. Later the conduit uses his contacts in Jammu and Kashmir to pay the militants' point-man in cash.

The conduit is paid a hefty commission by the terror financiers for helping in funneling money to militants operating on ground. The conduit, who has legitimate bank accounts, passes off the money paid by militants as genuine earnings overseas to avoid detection.

The militants' pointsman then distributes the money in cash to over-ground workers of the militants for arranging logistics. The over-ground workers not only help in arranging hideouts but also give militants cash for daily expenses. Even during Eid special Eidi is being given to militants on ground to meet their expenses.

"Everything is done in cash. And the over-ground workers dump huge amount of currency because they have to pay the militants. The demonetizing has hit them hard because they are the worst hit. The money they might be having will go waste because they deal in high denomination notes," said an intelligence officer.

Figures reveal that the security forces, last year, seized Rs 6,75,684 in Indian currency from the militants during different counter-terror operations. The cash is tip of the iceberg because most of the money is handled by over-ground workers and the currency seized was from the terrorists.

"Another group affected by the demonetization are the terrorists who are waiting to infiltrate from across the border. Most of these infiltrators are paid cash by Pakistani handlers. And all of the money is given in high-denomination notes so that they could sustain after crossing in till they met their contacts in Jammu and Kashmir. Since demonetization sprang a surprise it has hit the Pakistani terror handlers hard," said another officer.

DNA India News

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