While the BRICS nations have been discussing ways to tackle terrorism for a long time, India has a new suggestion to offer to address the issue. The proposal is to introduce an Aadhaar-like unique identification number for every individual and company across BRICS nations, reports The Economic Times.
To keep a check on suspicious transactions in any of the BRICS nations, India has suggested realtime alert system and also proposed a uniform format for recording and reporting transactions of banks.
“Earlier, it was a request-based alert. So during the course of investigation, if we found any foreign transaction happening, we raised a request to get details from the country concerned. This process consumes a lot of time,” said a senior official.
“Most of the time, investigators are clueless about foreign transactions. So if we raise an alert immediately and provide the relevant information to the concerned country, we can have an effective investigation conducted on terror financing that involves several countries,” the official added.