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FROM A
DIFFERENT ANGLE by Kenneth Rijock
DIFFERENT ANGLE by Kenneth Rijock
Financial Crime Consultant, for World-Check
Alert for Indian charities under investigation
28 August 2007
Media reports from India are indicating that five charities based in that country are under criminal investigation by law enforcement agencies of the United States. Whilst they have not been identified by name, their reported location may be sufficient for MLROs and compliance officers to check their client records, and to initiate immediate enhanced due diligence on any matches.
The alleged activities of the Indian charities:
Four of charities are said to be located in Hyderabad, and the fifth is from Guntur.
There have been reports of Indian charities being used as fronts for funding of designated terrorist organisations located in the Middle East, so even a rumour of an investigation in progress by US law enforcement is sufficient reason for compliance officers to ensure that their bank is not doing business with any suspect charities.
This is certainly not a "fishing expedition," but enquiries based upon statements made by reputable Indian media. When a source actually names the locations of investigative targets, it is time to pay attention.
- Money Laundering
- Narcotics Trafficking
- Terrorist Financing
Four of charities are said to be located in Hyderabad, and the fifth is from Guntur.
There have been reports of Indian charities being used as fronts for funding of designated terrorist organisations located in the Middle East, so even a rumour of an investigation in progress by US law enforcement is sufficient reason for compliance officers to ensure that their bank is not doing business with any suspect charities.
This is certainly not a "fishing expedition," but enquiries based upon statements made by reputable Indian media. When a source actually names the locations of investigative targets, it is time to pay attention.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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