India is facing terror threats that are rather complex and comprise a vast spectrum. Reports generated lately by the FATF have found out that the threats emanate more from groups affiliated with ISIS/Al Qaeda. Majorly, this concentration of terror threats is dominant in Jammu and Kashmir, and it definitely poses significant challenges to the national security apparatus of India.
FATF (Financial Action Task Force) – the body that oversees global standards for combating money laundering and terrorist financing-has taken note of the fact that, while it has taken tremendous strides in counter-terrorism activities, India still needs to strengthen judicial processes to effectively prosecute financial crimes related to terrorism. Conviction rates are still low, despite notable asset seizures by the Enforcement Directorate.
The report further underlined that Indian authorities must continue to remain vigilant and improvise the system as the country’s financial system undergoes changes. Such an all-rounded review, which is the first since 2010, places India in the “regular follow-up” list, referring to the persistence required for its complete development of anti-money laundering and counter-terrorism financing framework.
These terror threats are said to be from groups allegedly linked to ISIS and Al Qaeda, according to the FATF report, which happen to have threatened India in a really varied range of cruelties, especially in Jammu and Kashmir. According to the Paris-based global watchdog, these threats constitute one of the primary areas of concern for national security. FATF acknowledged that India has made considerable strides in anti-money laundering measures and in counter-terrorism efforts. However, it suggested still more efforts in prosecuting financial crimes effectively. Constitutional litigation and bureaucratic judicial backlogs have frustrated convictions.
While it is commendable that India has put up with the seizures of $10.4 billion by the Enforcement Directorate of the last five years, the FATF reported that the amount seized after conviction has been abysmally low. The gap points to the problem in the overall process of prosecution and culmination of financial crimes trials. It classified the country under “regular follow-up,” and requested India to continue and strengthen its efforts in addressing these threats. It is a comprehensive review of India since 2010.
