India's Role in the 4th 'No Money for Terror' (NMFT) Conference 2023
| Summary/Static | Details |
|---|---|
| Why in the news? | India's active role in the 4th 'No Money for Terror' (NMFT) Conference, emphasizing global cooperation to counter terror financing. |
| Conference Name | 4th 'No Money for Terror' (NMFT) Conference |
| Location | Munich, Germany |
| India's Key Concerns | Terror financing through cross-border fund flows, digital transactions, and evolving financial methods. |
| Legal Framework | Strengthened Unlawful Activities (Prevention) Act (UAPA), 1967, Prevention of Money Laundering Act (PMLA), 2002, and amendments to UAPA & NIA Act, 2019. |
| Key Enforcement Bodies | National Investigation Agency (NIA), Fake Indian Currency Note Coordination Centre (FCORD), Financial Intelligence Unit-India (FIU-IND), Reserve Bank of India (RBI). |
| New Vertical Focus Areas | Cyber Terrorism, Explosives & Prohibited Arms, Human Trafficking. |
| Regulatory Actions on Crypto | Virtual Digital Asset Service Providers (VDA SPs) brought under PMLA, Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) compliance mandated. |
| Technology Used | National Intelligence Grid (NATGRID) for intelligence sharing, FIU-IND for monitoring financial transactions. |