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Govt asks probe agencies to freeze assets of those named in UNSC terror funding list ‘within 24 hours’

The Indian government has ordered the regulatory and probe agencies to impose financial sanctions “without delay” and within 24 hours against entities named by the United Nations Security Council (UNSC) for their links to terrorism and terror funding, said a report by PTI.

The sanctions will be imposed under the UAPA and a law against use of weapons of mass destruction. 

According to the PTI report, the Financial Intelligence Unit (FIU) has been made the nodal agency for identifying, notifying and initiating legal action against such entities under section 12A of The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005, also known as the WMD Act. 

Last month, the department of revenue under the Union finance ministry had issued a directive to the regulatory, investigative, intelligence gathering and state police agencies explaining the procedure for the implementation of the WMD Act that aims to prohibit the proliferation of “weapons of mass destruction”, added the report.

Quoting the department of revenue (DoR) communication, the report said that “orders have been issued under section 51A of Unlawful Activities (Prevention) Act (UAPA) of 1967 and under Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 by government implementing targeted financial sanctions related to terrorism and terror financing as well as proliferation financing against persons and entities designated by United Nations Security Council Resolutions and the list of such designated entities is communicated by MEA (ministry of external affairs) from time to time…”

“In order to ensure that the sanctions are effective and the designated individuals or entities are not able to divert or utilise the targeted funds and assets, it is important that the sanctions are imposed without delay as required in different international conventions,” said the DoR communication. “As per the established conventions and practice, it is clarified that ‘without delay’ in the context of all sanctions related to terrorism and terror financing as well as proliferation financing means preferably on the same business day but not later than 24 hours in any case.”

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Updated: 28 Nov 2023, 07:17 PM IST

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