FIU-IND & SEBI MoU on Financial Crime:
The Financial Intelligence Unit-India(FIU) and Securities and Exchange Board of India (SEBI) signed an MoU to strengthen efforts against money laundering and financial crimes.
- The agreement aims to enhance intelligence sharing, coordination, and enforcement to combat financial crimes and terrorist financing.
- It enables the sharing of financial intelligence and database information between the two agencies, establishing reporting mechanisms under the Prevention of Money-Laundering Rules for regulated entities.
- Includes training and outreach programmes to strengthen Anti-Money Laundering(AML)/Combating the Financing of Terrorism(CFT) capabilities among SEBI-regulated entities.
- Focus on assessment of money laundering and terror financing risks, identification of red flag indicators, and compliance monitoring.
- Ensures regular coordination and alignment with international standards while enabling information exchange with foreign FIUs under the Egmont Principles of Information Exchange.
- FIU-IND is the central national agency responsible for receiving, processing, analysing, and disseminating information relating to suspect financial transactions and coordinating efforts against money laundering and financing of terrorism.
- SEBI is the statutory regulator of securities markets in India, established under the SEBI Act, 1992, to protect investor interests and ensure market integrity.
