India’s Role in the 4th ‘No Money for Terror’ (NMFT) Conference

The 4th ‘No Money for Terror’ (NMFT) Conference, held in Munich, highlighted global efforts to combat terror financing. India, a key participant since 2018, reiterated its commitment to strengthening international cooperation in fighting terrorism. The country emphasized the evolving threats posed by digital financial networks and cross-border transactions, calling for unified action against terror financing.

Key Highlights of India’s Participation

Concerns Raised by India

• Terror financing increasingly involves cross-border fund flows and digital transactions.
• Terrorists use complex and evolving financial methods to transfer assets.
• The need for greater international cooperation to track and counter terror financing.

India’s Efforts to Combat Terror Financing

Legal and Institutional Measures

• Strengthened the Unlawful Activities (Prevention) Act (UAPA), 1967 and Prevention of Money Laundering Act (PMLA), 2002.
• Terror Funding and Fake Currency (TFFC) Cell created under NIA.
• Amendments to UAPA and NIA Act, 2019 enabling asset seizure, attachment, and forfeiture.

Enforcement and Intelligence Mechanisms

National Investigation Agency (NIA) introduced three new verticals focused on,

• Cyber Terrorism
• Explosive & Prohibited Arms
• Human Trafficking
• Fake Indian Currency Note Coordination Centre (FCORD) established to curb counterfeit currency.

Financial Sector Regulations

• Reserve Bank of India (RBI) monitors financial ecosystem regulations.
• Financial Intelligence Unit-India (FIU-IND) empowered to issue guidelines for detecting and reporting suspicious transactions.

Permanent Working Group on Terror Financing Identification established, including stakeholders from,

• Law Enforcement Agencies (LEAs)
• Social Media Platforms
• Instant Messaging & Crowdfunding Platforms

Addressing Virtual Digital Assets (Cryptocurrency) Risks

• Virtual Digital Asset Service Providers (VDA SPs) brought under PMLA, 2002.
• AML/CFT/CPF compliance mandatory for cryptocurrency firms.
• Enhanced monitoring of transactions through risk assessment and Know Your Customer (KYC) requirements.

Technology-Driven Countermeasures

• National Intelligence Grid (NATGRID) developed as an IT platform to support intelligence and law enforcement agencies.
• Improved inter-agency coordination for real-time intelligence sharing.

Summary/Static	Details
Why in the news?	India’s Role in the 4th ‘No Money for Terror’ (NMFT) Conference
Conference Name	4th ‘No Money for Terror’ (NMFT) Conference
Location	Munich, Germany
India’s Key Concerns	Cross-border terror financing, digital financial threats, need for global cooperation
Legal Framework	UAPA (1967), PMLA (2002), Amendments in UAPA & NIA Act (2019)
Key Enforcement Bodies	NIA, FCORD, FIU-IND, RBI
New Vertical Focus Areas	Cyber Terrorism, Explosives & Prohibited Arms, Human Trafficking
Regulatory Actions on Crypto	VDA SPs brought under PMLA, AML/CFT compliance mandated
Technology Used	NATGRID for intelligence sharing, FIU-IND for financial monitoring
India’s Global Role	Active participant in NMFT since 2018, enhanced coordination for targeted enforcement