Financial Intelligence Unit – India (FIU-IND) is an organisation under the Department of Revenue, Government of India which collects

financial intelligence Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enfo ...

about offences under the

Prevention of Money Laundering Act, 2002 Prevention of Money Laundering Act, 2002 is an Act of the Parliament of India enacted by the NDA government to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified the ...

. It was set up in November 2004 and reports directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.About FIU-IND
from official website

Functions

The functions of FIU-IND are: #Collection of Information: FIU-IND is the nodal agency for receiving the following reports from various reporting entities. ##Cash Transaction reports (CTRs) ##Non-Profit Organisation Transaction Reports (NTRs) ##Cross Border Wire Transfer Reports (CBWTRs) ##Reports on Purchase or Sale of Immovable Property (IPRs) ##Suspicious Transaction Reports (STRs) #Analysis of Information: to uncover patterns of transactions suggesting suspicion of money laundering and related crimes. #Sharing of Information: with national intelligence/law enforcement agencies, national regulatory authorities and foreign

Financial Intelligence Unit Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enfo ...

s. #Act as Central Repository: to maintain the national data base on the basis of reports received from reporting entities. #Coordination: Coordinate and strengthen collection and sharing of financial intelligence through an effective national, regional and global network to combat money laundering and related crimes. #Research and Analysis: Monitor and identify strategic key areas on money laundering trends, typologies and developments. #Punitive Action: The agency can also take punitive action for violations of the PMLA. In December 2020, it imposed a fine of Rs. 96

lakh A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For ex ...

() on

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...

Organisation

The agency has a sanctioned strength of 75 staff, drawn on deputation from

Central Board of Direct Taxes Taxes in India are levied by the Central Government and the State Governments by virtue of powers conferred to them from the Constitution of India. Some minor taxes are also levied by the local authorities such as the Municipality. The authori ...

(CBDT),

Central Board of Indirect Taxes and Customs Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as ...

(CBIC),

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

(RBI),

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive ...

(SEBI), Department of Legal Affairs and

Intelligence agencies An intelligence agency is a government agency responsible for the collection, analysis, and exploitation of information in support of law enforcement, national security, military, public safety, and foreign policy objectives. Means of informatio ...

. It is headed by a Director, in the rank of

Joint Secretary Joint Secretary to Government of India (often abbreviated as JS, GoI or Union Joint Secretary or Joint Secretary to Union of India) is a post under the Central Staffing Scheme and the third highest non-political executive rank in Government of I ...

. Current Director is Pankaj Kumar Mishra,

IRS The Internal Revenue Service (IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax ...

- IT (1989), appointed in May 2016 for a five year term. He was promoted to Additional Secretary in May 2020, as a personal measure, with temporary upgradation of the post.Major bureaucratic reshuffle effected at Secretary, AS & JS level
''Indian Mandarins'', 12 May 2020
archived copy
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References

{{Reflist Government of India Organizations established in 2004 2004 establishments in India Financial crime prevention