J&K SIA Raids 3 Locations Over Crypto Terror Funding Case

HomeNews* Jammu and Kashmir Police‘s State Investigation Agency (SIA) conducted searches at three locations concerning a terror funding case involving cryptocurrency.

• The raids took place in Jammu, Doda, and Handwara within the Union Territory.
• The operation aimed to collect evidence on cross-border cryptocurrency funding used to support terrorist activity and destabilize the region.
• Authorities seized important items and electronic devices expected to aid in identifying others involved in the case.
• The investigation moves forward under sections of the Unlawful Activities (Prevention) Act and the Indian Penal Code. On Friday, the Jammu and Kashmir Police‘s State Investigation Agency (SIA) raided three separate locations in the Union Territory. The operation targeted sites in Jammu, Doda, and Handwara as part of an ongoing probe into alleged terror financing facilitated through cryptocurrency.

• Advertisement - A spokesperson for the police confirmed the raids, explaining they were part of efforts to uncover a conspiracy that uses digital currencies to fund terrorism and disrupt peace in the area. Searches were conducted under the framework of an open investigation, tied to FIR No 12/2022, and involved various provisions of the Unlawful Activities (Prevention) Act and the Indian Penal Code.

The spokesperson noted that the purpose of these operations was to collect crucial evidence and identify people who may be inciting local youth against the Union of India, presenting a risk to national security. “The search operations yielded vital evidence, marking a breakthrough in exposing the clandestine financial networks that keep the pot of terrorism boiling in Jammu and Kashmir,” the official stated.

Items and electronic devices recovered during the raids are expected to play a key role in uncovering the identities of additional co-conspirators and accomplices allegedly involved in these anti-national activities. The SIA said it remains firm in its goal to dismantle financial networks that support terrorism.

The agency indicated that these actions reflect their commitment to maintaining the integrity and sovereignty of the nation while protecting the safety of the people in Jammu and Kashmir. For more information on other news, see related coverage here.

No further information regarding the values of assets seized or specific cryptocurrency platforms involved was provided in the initial statement. The SIA said the investigation is ongoing and that further arrests may follow as evidence is analyzed.

For additional financial updates, visit this link for tax-related news.

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