Centre forms inter-ministerial panel to check money laundering activities

NEW DELHI: The central government has constituted an inter-ministerial coordination committee headed by the revenue secretary to facilitate policy and operational coordination among itself, law enforcement agencies, intelligence agencies and various regulators in matters relating to countering of terror financing and money laundering.
The 20-member committee – constituted under Section 72A of the Prevention of Money Laundering Act, 2002 – comes ahead of India's decadal review by the financial action task-force (FATF), a UN body that monitors actions of members states against terror financing and money laundering, next year.
The members of the panel include secretaries in the department of financial services, department of economic affairs, ministry of corporate affairs and ministry of home affairs; secretary (east) in external affairs ministry; IB director; SEBI chairman; IRDAI chairman; RBI deputy governor (banking & regulations); Central Board of Indirect Taxes and Customs chairman; CBDT chairman; special secretary (internal security) in MHA; member (banking and DBT), department of posts; director, directorate of enforcement; NIA DG; NCB DG; director, FIU; director, SFIO; DG, Central Economic Intelligence Bureau; and any other member co-opted by the Chair.
The financial action task force cell in the department of revenue shall act as secretariat to the committee.
The terms of reference of the panel include operational cooperation among the government, law enforcement agencies, the FinancRead More – Source