Defence Intelligence Agency authorised to get black money details from FIU

Press Trust of India New Delhi | Updated on January 13, 2018 Published on February 19, 2017


The Defence Intelligence Agency (DIA), a snoop-arm under the Defence Ministry, has been authorised to get details relating to suspected international wire transfers and banking transactions from Financial Intelligence Unit (FIU).

The move is aimed at arming the DIA with necessary details to act against terror funding and hawala transactions, mainly in Jammu and Kashmir and in the North-Eastern States of the country, officials said today.

The DIA is expected to generate more action-oriented inputs to check financial crimes on the basis of analysis of FIU reports, the officials said.

The Defence Intelligence Agency, set up following the recommendations of the Kargil Committee headed by eminent strategic expert K Subrahmanyam, provides technical inputs to the Defence Ministry and other agencies concerned.

The DIA is the latest entrant in the list of 20 other organisations, including the Supreme Court-appointed Special Investigation Team (SIT) to check black money and the country’s external and internal snooping agencies Research and Analysis Wing (RAW) and Intelligence Bureau (IB) respectively, that are empowered to seek details from the FIU on dubious financial transactions, as per an official order.

The FIU is tasked with collecting, analysing and disseminating information related to financial transactions suspected to be black money or proceeds of crime.

It receives and analyses Cash Transaction Reports (CTRs), Cross Border Wire Transfer Reports (CBWTRs), Reports on Purchase or Sale of Immovable Property (IPRs) and Suspicious Transaction Reports (STRs) from various reporting entities.

The FIU also shares information with Enforcement Directorate (ED), Central Bureau of Investigation (CBI), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), National Investigation Agency (NIA), Central Vigilance Commission (CVC), National Intelligence Grid (Natgrid) Central Economic Intelligence Bureau (CEIB) and other agencies.

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Published on February 19, 2017
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