Kashmir unrest: NIA probe into suspicious funding delayed as curfew continues

The National Investigation Agency (NIA), which launched a probe to track the funding of militants in Jammu and Kashmir by their sympathisers abroad, seems to be facing trouble as the banks remained closed due to curfew and unrest.

The funding was being by using bank accounts of ordinary citizens to route money to finance activities.

BANKS CLOSED DUE TO CURFEW, UNREST

Inputs about money being pumped into the Valley was shared by the Army after which NIA registered a preliminary enquiry(PE).

At least half a dozen accounts in six banks are under scrutiny on the suspicion of transaction activity lasting upto six months.

But since the PE began, the banks have been closed, with the troubled state facing unrest for past 46 days.

Keeping the urgency in mind, NIA is in the process of writing to chief vigilance officers to provide details of such accounts.

Also Read: Kashmir unrest: NIA probes bank accounts after sudden increase in flow of funds

WHAT IS KNOWN SO FAR?

Running the risk of getting caught by the Indian security and intelligence agencies, the militant organisations and their sympathisers have begun jettisoning the hawala channels for transferring money and are wooing Kashmiris who travel to gulf countries for work.

After thoroughly brainwashing them, the individual is persuaded to receive money in his bank account which is then used for financing terror activities, official sources said.

One per cent of the money received is left in the bank account of the individual as comission by their 'handlers' based abroad.

The money so deposited in the bank accounts is withdrawn within days and in some cases in a matter of hours.

In one specific case, the cheques were cleared to at least two dozen locations as soon as money was deposited. This, according to the sources, happened just before the street protests.

Sources in the anti-terror probe agency said discreet inquiries showed that some people who received such dubious money in their accounts had no connection whatsoever with the depositors, and that the amounts were withdrawn within 48 hours of being transferred.

Also Read: Kashmir: NIA probes bank accounts over suspicion of funds being used to fuel unrest

MODUS OPERANDI

In order to avoid detection by the Reserve Bank of India, the funds are transferred in small amounts not exceeding Rs 1 lakh. Banks in India are mandated to give a Suspicious Transaction Report (STR) if they find that over Rs 10 lakh has been deposited in any account in one go and also if they notice regular flow of large amounts into it from the same source.

Therefore, the sources said, the money is deposited in various accounts in order to avoid being noticed and named in STR.

The same set of people are used after a gap of no less than three to four months.

Over invoicing of goods by some Kashmiri businessmen doing trade in the Gulf has also come under NIA lens, sources said.

The Income Tax authorities have also been asked to share details about some businessmen to ascertain if the money transferred by them was used to fund militancy in the Valley.

It is only after the PE is over that the NIA will decide whether there is sufficient ground for a case to be registered or not.

Also Read:

Pakistan funding Kashmir unrest through hawala: Intelligence report

Kashmir: 1 civilian killed, 9 cops injured in grenade attack in Pulwama