Giving
a fillip to the early establishment of a state-of-art Forensic Lab within the
premises of Serious Fraud Investigation Office (SFIO) in the national capital;
and the development of a Comprehensive Early Warning System (EWS) for detection
of corporate fraud and malfeasance at the earliest, three important MoUs were
signed here today in the Ministry of Corporate Affairs in the presence of Shri
Sachin Pilot, Minister of Corporate Affairs.
The
MoUs signed were:
1.
Between Director, SFIO (which functions under the Ministry of Corporate
Affairs) and Director, National Institute of Electronics and Information
Technology (NIELIT), a scientific organization under the Ministry of
Communications and Information Technology;
2.
Between Joint Secretary, Ministry of Corporate Affairs and Director, Financial
Intelligence Unit (FIU-IND), an agency under the Ministry of Finance; and
3.
Director, SFIO and Director, FIU-IND.
Shri.
Naved Masood, Secretary, Ministry of Corporate Affairs was also present on the
occasion.
As
per the Memorandum, NIELIT will set up a state-of-art Forensic Lab within the
premises of SFIO - with a total outlay of Rs. 3.80 Crore on a turnkey basis, to
be completed in two phases.
The
MoUs signed with FIU-IND will lead to better and faster exchange of information
between the 3 Govt. of India entities. FIU has been playing a pivotal role in
the collection and dissemination of information on suspicious banking
transactions under the Prevention of Money Laundering Act, 2002. FIU-IND has
been helping both the Ministry and SFIO from time to time by supplying
information on suspicious banking transactions. Having access to banking
information as well as expertise of FIU, the MoU will help SFIO in conducting
its investigation in a more effective manner. These initiatives will facilitate
development of a comprehensive EWS for detection of fraud and malfeasance at
the earliest.
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