Terror funding will be curbed, if any connection with terrorists is detected, assets will be frozen within 24 hours

The assets of individuals, entities, or organizations designated by the United Nations Security Council (UNSC) in cases of links to terrorism and terrorist funding can now be frozen within 24 hours under the UAPA and WMD Act. The government has issued guidelines in this regard to regulators and investigating agencies.

The Financial Intelligence Unit (FIU), which works to detect money laundering and black money in the country's economy, has been banned under 'The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 or Section 12A of the WMD Act. A nodal agency has been created to identify, notify, and take legal action against such units or organizations.

According to government records, India had enacted this law under Section 2 of the UN Security Council Act, 1947 in accordance with its commitments under UNSC resolutions 1718 (2006) and 2231 (2015) and their subsequent resolutions. The Department of Revenue (DoR) under the Union Finance Ministry had last month issued instructions to the country's regulators, investigative agencies, intelligence agencies, and state police agencies detailing the process for implementing the 2005 law.

The purpose of this law is to prevent the proliferation of weapons of mass destruction, including any biological, chemical, or nuclear weapons. This law underlines India's commitment to prevent any non-state actors and terrorists from acquiring weapons of mass destruction. According to the circular of the Revenue Department, the above guidelines have been issued by the government under Section 51A of the Unlawful Activities Prevention Act, 1967 (UAPA) and Section 12A of the WMD Act.

"For sanctions to be effective and to prevent designated persons or entities from accessing or transferring targeted funds and assets, it is important that sanctions are implemented without delay in accordance with various international conventions," it said. '

The Central Government had earlier this year appointed the FIU Director as the Central Nodal Officer (CNO) under Section 12A of the WMD Act. This provision empowers the government through the FIU to freeze, seize, or attach funds, financial assets, or economic resources owned or controlled by persons or entities designated under this Act of 2005 and Section 51 of the UAPA. Is.