Assets of those named by UNSC for terror funding to be frozen within 24 hours, government tells agencies

Government directs agencies to impose financial sanctions against UNSC-named entities for links to terrorism/terror financing "without delay" and within 24 hrs under UAPA and WMD Act. FIU is nodal agency to identify, notify and initiate legal action. DoR issued directive to agencies to implement law.

Financial sanctions against entities named by the United Nations Security Council (UNSC) for their links to terrorism and terror financing should be imposed "without delay" and within 24 hours under the UAPA and a law against use of weapons of mass destruction, the government has directed regulatory and probe agencies.

The Financial Intelligence Unit (FIU), the federal agency tasked to detect money laundering and black money in the country's economic channels, has been made the nodal agency for identifying, notifying and initiating legal action against such entities under section 12A of The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005, also known as the WMD Act.

India, as per official records, enacted the law as per its commitment to the country specific efforts under UNSC resolution 1718 (2006) and 2231 (2015), and their successor resolutions, as mandated under section 2 of United Nations (Security Council) Act, 1947.

The Department of Revenue (DoR) under the Union Finance Ministry issued a directive to the country's regulatory, investigative, intelligence gathering and State police agencies last month explaining the procedure for the implementation of the 2005 law that aims to prohibit the proliferation of "weapons of mass destruction", which stands for any biological, chemical or nuclear weapons. The law is a tool to affirm India's commitment to prevent a non-state actor and a terrorist from acquiring weapons of mass destruction and their delivery systems.

The DoR communication, which has been accessed by PTI, says that "orders have been issued under section 51A of Unlawful Activities (Prevention) Act (UAPA) of 1967 and under Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005, by government implementing targeted financial sanctions related to terrorism and terror financing as well as proliferation financing against persons and entities designated by United Nations Security Council Resolutions and the list of such designated entities is communicated by MEA (ministry of external affairs) from time to time..."

"In order to ensure that the sanctions are effective and the designated individuals or entities are not able to divert or utilise the targeted funds and assets, it is important that the sanctions are imposed without delay as required in different international conventions.

"As per the established conventions and practice, it is clarified that 'without delay' in the context of all sanctions related to terrorism and terror financing as well as proliferation financing means preferably on the same business day but not later than 24 hours in any case," the DoR communication said.