Financial Intelligence Unit—India (FIU-IND) is an organisation under the Department of Revenue,

Government of India The Government of India (ISO 15919, ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of States and union t ...

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 (ISO: ) is an Act of the Parliament of India enacted by the Indian Government to prevent money laundering and to provide for confiscation of property derived from money laundering. PMLA and the Rules n ...

. It was set up in November 2004 and reports directly to the

Economic Intelligence Council The Economic Intelligence Council is the apex forum overseeing government agencies responsible for Economic warfare, economic Intelligence (information gathering), intelligence and combating economic offences in India. The Council is also the apex ...

(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 A financial intelligence unit (FIU) is a national agency responsible for receiving, analyzing, and disseminating financial information on suspicious or unusual financial activity from the financial industry and other entities or professions req ...

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. 9.6 million on

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support E-commerce payment system, online money transfers; it serves as an electronic alter ...

Organisation

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

Central Board of Direct Taxes The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue, Ministry of Finance, Government of India. It oversees the administration of direct taxes, including income tax and corporate tax, through the Income Ta ...

(CBDT), Central Board of Indirect Taxes and Customs (CBIC),

Reserve Bank of India Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...

(RBI),

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the Regulatory agency, regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance (India), Ministry of Finance within the Government ...

(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 inf ...

. It is headed by a Director, in the rank of Joint Secretary. Current Director is Pankaj Kumar Mishra,

IRS The Internal Revenue Service (IRS) is the revenue service for the Federal government of the United States, United States federal government, which is responsible for collecting Taxation in the United States, U.S. federal taxes and administerin ...

- 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

{{Authority control Indian intelligence agencies Organizations established in 2004 2004 establishments in India Anti-money laundering organizations Ministry of Finance (India)