India, US to work together to combat terror funding

February 12, 2015 20:07

To combat terror financing, India and the US today committed to work together to check illicit money transfers for terrorism and other illegal activities, even as the two countries discussed ways to boost trade ties.

Finance Minister Arun Jaitley and the visiting US Treasury Secretary Jacob Lew also discussed a range of other issues, including on taxation and long-term investment strategies, during the 5th Indo-US Economic and Financial Partnership meeting in New Delhi today. "

"We have had a close cooperative relationship with India. We share a common commitment to working together to try as much as we can to shut down the flow of funding to those who commit terrorist act and other kinds of activities," Lew said at a post-meeting joint press conference.

"We discussed money laundering and funding of terrorism, since a large number of these funds come through concealed identities. This issue has been brought to out notice and the concerned authorities, including central bank, has taken appropriate action in this matter," Jaitley said.

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