{"id":28623,"date":"2018-10-24T14:03:13","date_gmt":"2018-10-24T08:33:13","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28623"},"modified":"2018-10-24T14:03:13","modified_gmt":"2018-10-24T08:33:13","slug":"ngos-on-ed-watchlist-for-funding-naxals","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ngos-on-ed-watchlist-for-funding-naxals\/","title":{"rendered":"NGOs on ED watchlist for funding Naxals"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-national\/ngos-on-ed-watchlist-for-funding-naxals\/article24266695.ece\">NGOs on ED watchlist for funding Naxals<\/a><\/p>\n<p><strong><u>News:<\/u><\/strong><\/p>\n<ol>\n<li>The Enforcement Director(ED) keeping eye on some NGOs that are suspected for funding naxals in various states.<\/li>\n<\/ol>\n<p><strong><u>Important facts:<\/u><\/strong><\/p>\n<p>2. The agency is preparing a list of these NGOs to examine their financial dealings.<\/p>\n<p>3. The action is being taken following several rounds of multi-agency meetings.<\/p>\n<p>4. The ED also identified some prominent industrial houses involved in paying \u2018protection money\u2019 to these organsiation.<\/p>\n<p>5. ED will soon send summon to these houses for recording their statements.<\/p>\n<p>6. The agency earlier has found that naxal leaders extorted money and laundered the funds.<\/p>\n<p>7. Properties worth crores has been attached under <strong>Prevention of Money Laundering Act<\/strong> over the past few months.<\/p>\n<p>8. States like Bihar, Jharkhand, West Bengal, Chhattisgarh, Odisha, Telangana are more prone to naxals.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"638\"><strong><u>Prevention of Money Laundering\u00a0 Act,2002:<\/u><\/strong><\/p>\n<ul>\n<li>This act was enacted to prevent money-laundering and to provide for confiscation of property derived from money laundering.<\/li>\n<li>\u00a0 It came into force in 2005.<\/li>\n<li>\u00a0 PMLA defines money laundering offence and provides for the freezing, seizure and confiscation of the proceeds of crime.<\/li>\n<li>\u00a0 Salient Features of this act are as follows:<\/li>\n<\/ul>\n<p>a) The provisions of this act are applicable to all financial institutions.<\/p>\n<p>b) The agency monitoring the anti-Money laundering activities in India is the Financial Intelligence Unit (FIU-IND).<\/p>\n<p>c) There can be punishment of imprisonment upto 3-7 years with fine upto 5 lakh rupees.<\/p>\n<p><strong><u>The Prevention of Money Laundering (Amendment) Act 2012<\/u><\/strong><\/p>\n<ul>\n<li>\u00a0The PMLA was enacted in 2002, but was amended thrice, first in 2005, then in 2009 and then 2012.<\/li>\n<li>\u00a0PMLA (Amendment) Act, 2012 has enlarged the definition of money laundering by including activities such as\u00a0concealment, acquisition, possession and use of proceeds\u00a0of crime as criminal activities.<\/li>\n<li>\u00a0Some other features are as follows:<\/li>\n<\/ul>\n<p>a) The amendment has introduced the concept of\u00a0Corresponding law to link the provisions of Indian law with the laws of foreign countries.<\/p>\n<p>b) It also introduced the concept of \u2018reporting entity, which would include banking company and financial institutions.<\/p>\n<p>c) The Prevention of Money Laundering Act, 2002 levied a fine up to Rs 5 lakh. The amendment act has removed this upper limit.<\/p>\n<p>d) The act has provided for provisional attachment and confiscation of property of any person (for a period not exceeding 180 days).<\/p>\n<p>e) The act has conferred the powers upon the Director to call for records of transactions or any additional information that may be required for the purposes of investigation.<\/p>\n<p>f) Obligation of banking companies, financial Institutions and Intermediaries to follow the KYC norms and maintain records for a minimum period of 10 Years.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>NGOs on ED watchlist for funding Naxals News: The Enforcement Director(ED) keeping eye on some NGOs that are suspected for funding naxals in various states. Important facts: 2. The agency is preparing a list of these NGOs to examine their financial dealings. 3. The action is being taken following several rounds of multi-agency meetings. 4.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/ngos-on-ed-watchlist-for-funding-naxals\/\">Continue reading <span class=\"screen-reader-text\">NGOs on ED watchlist for funding Naxals<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-28623","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704934889},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=28623"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28623\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=28623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=28623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=28623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}