Cases of terror funding have increased by 300 per cent: Report

New Delhi: A Finance Ministry report has come out with shocking details about terror funding just a few days after the Hyderabad bomb blasts. According to the report terror funding has gone up by 300 per cent in the last one year while cases of hawala transaction and fake currency notes have also increased manifold.

According to the Financial Intelligence Unit of the Ministry terror funding has increases 300 per cent and in 2011-12, 1444 suspicious transaction had been caught while it was only 428 in 2010-11.

FIU's data is very important because it collects information from the Intelligence Bureau, RAW, Income Tax and Customs Departments and then prepares its report. The FIU has given information about the terror funding to the different investigation agencies of the country.

The FIU has given information about the terror funding to the different investigation agencies of the country.

According the report cases of tax evasion and hawala have increased by more than 100 per cent. In 2011-12, 69,000 cases were reported while in 2010-11, only 20,000 cases came to light.

According to the report cases of terror funding has increased as terrorists have found new methods to channel the money. Apart of these cases of fake currency notes have also came to light. Any bank that receives a fake currency note must report it to the FIU. The FIU report says that cases of fake currency notes have increased by 30 per cent. In 2011-12 there were 3,27,382 cases of fake currency notes whereas in 2010-11 there were just 2,51,448 cases.

The report highlights the threat from terrorism and cases of funding, which have become a major headache for the Indian security agencies.

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