Terrorists seem to have hit upon a new method to raise funds to finance their operations - manipulating stock exchanges, reports CNBC-TV18.
Addressing an august gathering on international security at Munich, National Security Advisor M K Narayanan outlined how many international terrorist groups were using this legitimate route, manipulating the stock exchanges under the garb of some fictitious companies, which have subsequently been traced to these terrorist groups.
He added however that the findings were just for a conceptual paper to stay ready to deal with terrorist methods. "These are all individual cases we have come to notice from time to time. As a conceptual paper, these are various methods, which are used by terrorist organisations and we have to be careful about this when dealing with counter terrorist methodologies," he said.
According to him, hawala and banking channels, ATM machines and stock exchanges were all part of their modus operandi, as were apparently legitimate investments like real estate and hotels.
Narayanan specifically mentioned that several fictitious companies have operated in Mumbai and Chennai stock exchanges and their roots have been traced to terror outfits.
Narayanan dropped this bombshell at the 43rd Conference on Security Policy in Munich last week. So what exactly did Narayanan say and in what context?
Addressing an august gathering on international security at Munich, National Security Advisor M K Narayanan outlined how many international terrorist groups were using this legitimate route, manipulating the stock exchanges under the garb of some fictitious companies, which have subsequently been traced to these terrorist groups.
