The new legal framework on terrorism may incorporate provisions regarding
the freezing of assets, funds, bank accounts, deposits, cash, etc., when
there is reasonable suspicion of their intended use in terrorist activities.
The investigating officer may undertake such actions with the prior approval
of a designated authority, subject to adequate safeguards. These provisions
may be incorporated in a separate chapter in the National Security Act,
1980.
A specialised cell may be created in the proposed National Counterterrorism
Centre drawing upon expertise from the Union Ministries of Finance and Home
Affairs and the Cabinet Secretariat for taking concerted action on the
financial leads provided from information gathered by various sources.
Further, different investigation agencies dealing with financial
transactions may set up anti-terrorist finance cells within their
organizations to augment the efforts of intelligence agencies involved in
counter-terrorism activities.
For a speedy investigation into the financial aspects of specific
cases/groups of cases related to terrorist activities, dedicated teams may
be formed within the agencies charged with investigating offenses related to
terrorism. This may be accomplished by inducting officers specializing in
different aspects of financial investigation for short periods, say three to
six months. A protocol for achieving this may be arrived at between the
concerned Union and State Ministries/ Departments to facilitate such
capacity building and strengthen the effectiveness of the counter-terrorism
measures