Fighting terror funding issues to be under MHA: Centre

New Delhi: Issues relating to "combating financing of terrorism" will be brought under the ambit of the Home ministry.

"The ministry of Home affairs has concurred with the proposal of the ministry of Finance to amend the allocation of business rules, so that the subject of combating financing of terrorism is allocated as a subject matter to the ministry of Home affairs," MOS for Home affairs Ajay Maken told Rajya
Sabha in a written reply to a question.

The ministry of Home affairs deals with the subject matter of terrorism. The aspect of financing of terrorism is monitored by security agencies within the MHA, and concerns regarding the vulnerabilities or
channels of terrorist financing have been enunciated from time to time, he said.

"As a result of such concerns, the Prevention of Money Laundering Act (PMLA) was amended in 2009 and money transfer services, which were hitherto not covered as a reporting entity of the PMLA, were brought
withing its ambit.

"Action has also been taken to freeze funds associated with terrorist outfits, invoking Section 51 (a) of the Unlawful Activities (Prevention) Act, 1967,"the minister said.

"International credit and debit cards, using their Visa and Mastercard and American express platforms, have been made reporting entities under PMLA. The Director, Financing Intelligence Unit (FIU-IND) is empowered to seek specific information in respect of transactions utilising international credit and debit cards," Maken said.