CBI SIGNS A MEMORANDUM OF UNDERSTANDING (MOU) WITH THE FINANCIAL INTELLIGENCE UNIT- INDIA ON EXCHANGE OF INFORMATION;

DIRECTOR CBI SHRI RANJIT SINHA SAYS RECEIVING TIMELY INFORMATION AND INTELLIGENCE ABOUT ECONOMIC OFFENDERS IS ESSENTIAL FOR INVESTIGATION

Press Release
New Delhi , 16.05.2013

A memorandum of Understanding (MOU) was signed between the Central Bureau of Investigation (CBI) and the Financial Intelligence Unit - India (FIU-IND) at the CBI Headquarters, New Delhi yesterday. The MOU was signed by Shri Ranjit Sinha, Director, CBI and Shri P.K. Tiwari, Director, FIU-IND. The present MOU will replace the previous MOU signed between the two agencies on April, 2010. The main purpose of the MOU is to facilitate better exchange of information and to improve the anti-money laundering regime (PMLA) as per international standards.

 

The MOU enables exchange and use of information between the two agencies under the Prevention of Money Laundering Act, 2002. The FIU-IND and CBI will assist each other by sharing intelligence and information about persons suspected to be involved in scheduled offences under the PMLA, and the list of offenders prosecuted by the CBI from time to time. Under the MOU, the two Agencies will exchange suspicious transaction reports relating to suspected cases of crime as well as cash transaction reports. Both parties are committed to keep the shared information confidential.

 

Speaking on the occasion, Director, CBI Shri Ranjit Sinha said that economic offenders use the latest technology for perpetrating crimes and this has posed a new challenge for law enforcement and intelligence agencies. Director CBI said that information and intelligence about crimes and criminals is one of the most important tools in the hands of law enforcements Agencies; thus making timely exchange of information very essential. Shri Sinha said that the CBI has in the past benefitted from the information provided by the FIU-IND about economic offenders and this has been crucial in investigating some important cases .

 

Director FIU, Shri P.K Tiwary said enhanced coordination with law enforcement agencies, and, access to financial administrative and law enforcement information are priority areas for the FIU-IND. He also said that FIU-IND supports investigation and intelligence network with the CBI, CBDT, CBEC & ED. Shri Tiwary also added that over 700 suspicious transactions records have been shared with the CBI since 2006-07.

 

Joint Director CBI (Economic Offences Wing ) Shri O.P.Galhotra said that information given by FIU-IND has proved to be of immense help in on-going investigations and the mechanism for sharing information between FIU-IND & CBI has been strengthened by the signing of the new MOU.

 

The MoU between FIU-India and the CBI was signed in a function at the CBI Headquarters, New Delhi and was attended by senior officers of the CBI, Shri Saleem Ali, Special Director CBI, Shri Anil Sinha, Special Director CBI, Shri R.K. Dutta, Additional Director CBI, and, Shri Anand Jha, Additional Director, FIU & Shri S.K.Sharma, Deputy Director, FIU were among the officers present on the occasion.

 





********