Give out the major sources of terror funding in India and the efforts being made to curtail these sources. In the light of this, also discuss the aim and objective of the No Money for Terror (NMFT)’ Conference recently held at New Delhi in November 2022.

Introduction: Terrorist activities, driven by financial resources, can aptly be termed as the lifeblood of terrorism. It’s essential to curtail these funds to choke terror operations effectively.

Major Sources of Terror Funding in India:

1. Illegal Operations: Activities like drug trafficking, kidnapping, smuggling, and extortion contribute significantly.
2. Supporters: Donations from individuals who align with extremist ideologies.
3. Charitable Institutions: Some non-profits act as a façade for terror groups, channeling funds under the guise of charitable donations.
4. Cartels and Criminal Networks: Affiliations with global crime syndicates engaged in narcotics, human trafficking, and other illicit activities.
5. Counterfeiting: Circulating counterfeit currency, often in conjunction with smuggling legitimate currency.
6. Informal Channels: Using systems like ‘hawala’ to discreetly transfer funds.
7. Bulk Cash Smuggling: Physically transporting significant amounts of money across borders.
8. Emerging Technologies: Adoption of cryptocurrencies and digital assets to obfuscate transactions.

National Efforts to Curtail Terror Funding:

1. Cooperation and Coordination: Enhancing collaboration among intelligence and investigative agencies.
2. Trace, Target, and Terminate Strategy: A comprehensive approach to identify and neutralize terror funding sources.
3. Legal Framework: Strengthening laws and harmonizing regulations for decisive action.
4. Next-Gen Tech: Developing mechanisms to prevent misuse of advanced technologies in terror financing.
5. Asset Recovery: Augmenting the legal and operational framework to confiscate assets related to terror funding.
6. NIA’s Role: The National Investigation Agency plays a pivotal role in combatting and investigating terror-related offenses.
7. Unlawful Activities Prevention Act: Empowers the government to designate individuals and groups as terrorists.
8. NATGRID: A secure integrated database that aids in providing real-time data on economic offenses and terrorist activities.
9. MAC and SMAC: Centres dedicated to the daily sharing of intelligence on terrorism.

No Money for Terror (NMFT) Conference: Held in New Delhi in November 2022, the NMFT conference aimed to:

• Bolster international cooperation against terrorist financing.
• Share effective practices and tools for detecting and countering terror funds.
• Advocate the creation and implementation of robust financial policies.
• Address evolving threats and methodologies employed by terrorists for funding.

Conclusion: Countering terror financing demands intensified international collaboration, legal robustness, technological adaptability, and a commitment to shared intelligence. The “Beyond-Border Cooperation” strategy underscores the need for global collaboration in the fight against terror funding.