Under
the provisions of the Prevention of Money Laundering Act, 2002 and the rules
framed there under, it is the responsibility of the banks and other financial
institutions to detect suspicious transactions and report such transactions to
the Financial Intelligence Unit-India (FIU-IND) under the Ministry of Finance.
FIU-IND is responsible for receiving and analysing such Suspicious Transaction
Reports (STRs) and disseminating information to relevant intelligence and law
enforcement agencies. FIU-IND has established an information technology based
mechanism for online filing Suspicious Transactions Reports (STRs) and other
statutory reports and for online dissemination of the information to the
intelligence and law enforcement agencies.
The
STRs received by FIU-IND from the banks and other financial institutions are
disseminated by it to various intelligence and law enforcement agencies
including agencies administering direct and indirect taxes for taking further
action. However, information disseminated by FIU-IND may or may not lead to
detection of evasion of direct and indirect taxes. Moreover separate data with
regard to evasion of direct and indirect taxes detected by various enforcement
agencies on the basis of information shared by FIU-IND is not maintained.
Through
the mechanism of Economic Intelligence Council and Regional Economic
Intelligence Councils, various law enforcement agencies share information and
coordinate action relating to various economic offences, including tax evasion.
This
was stated by Minister of State for Finance, Shri J.D.Seelam in written reply
to a question in Lok Sabha today.
0 comments:
Post a Comment