SC’s judgement on Terror Financing 

  • IASbaba
  • April 13, 2021
  • 0
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SC’s judgement on Terror Financing 

Part of: GS Prelims and GS – II – Judiciary & GS-III – Terrorism

In news

  • Extortion money paid to a terrorist organisation to protect one’s business is not terror funding, the Supreme Court has said in a judgment.

Key takeaways 

  • With this, Supreme Court granted bail to a Jharkhand coal transporter who had paid huge amounts to the Tritiya Prastuti Committee (TPC), a breakaway faction of the CPI (Maoist).
  • The Financial Action Task Force on Money Laundering (FATF) has made recommendations to members relating to counter terrorism financing (CTF). 
  • It has created a Blacklist and Greylist of countries that have not taken adequate CTF action.
  • FATF is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. 
  • In 2001, its mandate was expanded to include terrorism financing.

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