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ED allowed to share information about economic offenders with 15 more agencies

Source: PTI
November 28, 2022 20:13 IST
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The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers.

Economic offender

Illustration: Uttam Ghosh/Rediff.com

The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22.

Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.

 

These 15 agencies include National Investigation Agency (NIA), Serious Fraud Investigation Office (SFIO), State Police Department, regulators under various Acts, Directorate General of Foreign Trade (DGFT), Ministry of External Affairs, and Competition Commission of India (CCI).

National Intelligence Grid, Central Vigilance Commission (CVC), Defence Intelligence Agency, National Technical Research Organisation, Military Intelligence, inquiry authority under Central Civil Services Rules and Wildlife Crime Control Bureau too have been added to the list of agencies for data sharing.

Earlier, the ED was permitted to share data with only 10 agencies, including CBI, RBI, Sebi, IRDAI, Intelligence Bureau, and Financial Intelligence Unit (FIU), among others.

AMRG & Associates Senior Partner Rajat Mohan said  officers under PMLA are now authorized to share incriminating information and material with 25 agencies.

This change will integrate numerous state and central government agencies, empowering them with verified information related to an outlaw.

"Sharing information among numerous agencies will help them to apprehend social evils and bring them to justice in the court of law," Mohan said.

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