New Delhi: Close on the heels of raids on a major travel and tour operator in Srinagar, investigative agencies claim that this is not be an isolated incident, and that on their radar they have a number of other major tour operators, dealers in dry fruits and handicrafts in the Valley, who may be using their legitimate business as a front to route money to separatists and other subversive elements in the region.
The National Investigation Agency and the Enforcement Directorate are conducting a major probe into terror funding in the Valley.
The recent raids in Srinagar on Al Khuddam Tours and Travels were carried out by the ED in connection with an alleged Foreign Exchange Management Act (Fema) violation to the tune of over Rs 20 crore, which it suspects may well have been routed through hawala channels for subversive activities. The NIA, too, is conducting similar investigations and has already arrested some separatist leaders in connection with the terror funding case. The NIA had also raided some businessmen and hawala operators in the same case in a nationwide crackdown in May. Sources said both the agencies are likely to conduct more raids in the coming days targeting businessmen in the Valley.
“Some businessmen, we suspect, are using legitimate financial activities to support subversive activities. Multiple agencies are being involved in gathering more information, and in days ahead, we will raid them as well,” a senior official said.
Sources said the recent crackdown on the flow of funds to separatists and terror groups was having a direct impact on the Valley’s security scenario. Inputs received by the Centre say subversive elements are facing a major cash crunch, due to which stone pelting and terror attacks on forces have shown a decline.
A number of businessmen based in the Valley, sources added, are using the Indo-Pak trade across the LoC for routing hawala money to separatists. Agencies have already expressed reservations on the cross border trade and want it to be either stopped completely or regulated strictly.
“Our information reveals some businessmen who were facilitating routing of the money to the separatists are now under tremendous stress, and ever since the crackdown, they have stopped their activities. So this is a positive development as it has led to a major financial and resource crunch for subversive elements,” the official added.
This is first time in over two decades since militancy erupted in the Valley that central agencies have launched a major drive to squeeze the flow of
funds that is used in terror activities. The Centre, too, has given a clear directive to intelligence and security agencies to be “extremely aggressive” in their approach to ensure that terror groups and separatists, particularly hardliner Hurriyat leaders, do not have easy access to funds.
