New Delhi, Nov 18: Pushing for targeted economic sanctions to disrupt fund flows for terrorists, Prime Minister Narendra Modi on Wednesday said the dastardly attacks in Paris were a grim reminder that terrorists have shown
remarkable flexibility in arranging finances.
Modi said the terrorists derive funding from a variety of criminal activities which include smuggling of narcotics, bank robbery, vehicle thefts, fake currency or from state sponsored activities in failed states.
Disrupting fund flow constrains the capabilities of terrorists and reduces their ability to execute attacks,” he said addressing the sixth Global Focal Point Conference on Asset Recovery and 21st conference of CBI and state anti- corruption and vigilance bureaux.
This involves putting in place both systemic safeguards, and targeted economic sanctions based on credible counter-terrorism intelligence, Modi told the gathering of investigators from 33 countries.
Some of the countries were unable to take part in the meet following cancellation of flights in the wake of Paris attacks, CBI officials said.
The Prime Minister said targeting proceeds of crime is an important elements in the fight against crime and sought international cooperation in this regard.
Globalisation of organised crime poses a major threat to economies throughout the world and it is a well known fact that dirty money drives out good money, he added.
Organised crime can hamper investment and economic growth. It can also infiltrate or control a large section of economy. Illicit funding promotes organised criminal activities like drug trafficking, arms trafficking, human trafficking and terrorism, Modi told the gathering.
