Sharing information on money laundering

 

The Government of India has authorized Financial Intelligence Unit - India (FIU-IND) to enter into Memorandum of Understanding (MOU) with FIUs of other countries to exchange information pertaining to money laundering and terror funding. So far, FIU-IND has signed MOUs with FIUs of Mauritius, Philippines, Brazil, Malaysia, Russian Federation, Australia and Canada and information is being shared between FIU-IND and its counterparts. Further, India has entered into MOUs with China and Vietnam which find mention of crime relating to money laundering.

This information was given by Minister of State for Finance, Shri S.S. Palanimanickam in reply to a question raised by Shri Baijayant Jay Panda in Lok Sabha today.

 

BSC/BY/DN-104 

Information sharing on money laundering: FIU IND authorised to exchange intelligence with foreign FIUs under MOUs for cross border investigations. Authorization permits FIU IND to conclude Memoranda of Understanding with foreign FIUs to exchange information on money laundering and terror financing; FIU IND has signed MOUs with several countries and some MOUs explicitly reference crimes relating to money laundering, establishing the criminal scope for information exchange.