Intelligence agencies flag bank accounts of state firms

KOCHI: Some state-based companies are under the scanner as the National Investigation Agency and Central enforcement agencies raised red flags after tracking money trails that allegedly lead to people involved in anti-national activities.

According to intelligence officers, the agencies have flagged a few bank accounts belonging to the suspects after a probe found links to the bank accounts that have already been frozen for involvement in terror funding.

As per the Ministry of Home Affairs (MHA), 20 bank accounts belonging to companies and individuals suspected to be involved in terror funding were frozen in 2016-17. The accounts had `14.09 crore. The NIA is also probing two cases related to the involvement of companies in connection with terror funding. “It’s suspected that a few organisations are being funded by these firms under the cover of education and charity projects. We are verifying the transactions that have taken place between the bank accounts,” said the officers.

The Financial Intelligence Unit under the Ministry of Finance has been coordinating with the MHA to keep tabs on the flow of foreign funds to Indian NGOs.

“There is no clarity on the purpose for which the money is spent by these NGOs. The MHA has already cancelled the Foreign Contribution (Regulation) Act (FCRA) registration of 980 NGOs in the state between 2012 and 2015,” they said.

A probe by Central agencies had found that a few Qatar-based institutions, including government departments, were transferring funds to organisations in Malappuram and Kozhikode districts. In 2016, six such organisations received more than `7 crore from Qatar. As per the details, the Gulf country’s Ministry of Endowment was the biggest contributor with `3.5 crore, followed by institutions called WNO Qatar WC in Doha, Qatar Charity and Hassan Group.