Give out the major sources of terror funding in India and the efforts being made to curtail these sources? In the light of this, also discuss the aim and objective of the No Money for Terror (NMFT) Conference recently held at New Delhi in November 2022?

Major Sources of Terror Funding in India

Terror funding in India primarily stems from various sources, including:

- Charitable Organizations: Some NGOs and charities are misused to channel funds to terrorist groups.

- Drug Trafficking: The narcotics trade generates substantial revenue for terror outfits.

- Hawala Networks: Informal money transfer systems facilitate untraceable funding.

- State Sponsorship: Certain neighboring countries allegedly support terrorism through financial aid.

Efforts to curtail these funding sources include:

- Legislative Measures: The Unlawful Activities (Prevention) Act (UAPA) has been strengthened to combat terror financing.

- Financial Intelligence Unit (FIU): This body monitors suspicious transactions and collaborates with international agencies.

- International Cooperation: India engages with global platforms like the Financial Action Task Force (FATF) to enhance counter-terrorism financing frameworks.

No Money for Terror (NMFT) Conference

The No Money for Terror (NMFT) Conference, held in New Delhi in November 2022, aimed to address the global challenge of terror financing. Key objectives included:

- Strengthening International Collaboration: The conference sought to foster cooperation among nations to combat terror financing effectively.

- Sharing Best Practices: Participants exchanged strategies and experiences to enhance counter-terrorism financing measures.

- Developing Actionable Frameworks: The conference aimed to create actionable guidelines for nations to implement robust financial controls.

In conclusion, addressing terror funding in India requires a multifaceted approach, combining domestic legislation and international cooperation, exemplified by initiatives like the NMFT Conference. These efforts are crucial for enhancing global security and countering terrorism effectively.