New Delhi, February 14
Manipulation of stock exchanges is the new modus operandi used by
terrorist groups to raise funds for their operations and fictitious
companies have operated in the Mumbai and Chennai stock exchanges.
Revealing this, National Security Advisor M.K. Narayanan has said some of these companies were later traced to terrorist groups.
"Isolated instances of terrorist outfits manipulating the stock markets to raise funds for their operations have been reported. Stock exchanges in Mumbai and Chennai have, on occasions, reported that fictitious or notional companies were engaging in stock market operations," he said while addressing the 43rd Conference on Security Policy in Munich last week.
Calling for the lifting of banking secrecy and the corporate veil in terrorist-related cases, he said security agencies had detected many instances of funds received via banking channels from so-called safe locations like Dubai and UAE that were intended for terrorist groups.
— PTI
