NEW DELHI — The Financial Intelligence Unit-India (FIU-IND) detected
undisclosed income worth nearly INR 11,000 crore in 2024, the Finance Ministry
informed on Thursday.
As per the intelligence shared by the FIU-IND with the
law enforcement agencies (LEAs), it detected INR 10,998 crore worth of
unidentified income, identified INR 2,763 crore worth of criminal proceeds and
attached INR 983.4 crore worth of assets this year.
Also, the central nodal agency seized 461 kgs worth of
narcotics and psychotropic substances, levied INR 39.14 crore in penalty in 211
compliance orders via regulatory action in reporting entities and arrested 184
people in money laundering, terror financing and other predicate offences,
informed the ministry.
“The Financial Intelligence Unit-India’s strong vigil on
financial transactions w.r.t. money laundering, terrorism and proliferation
financing has ensured detection of undisclosed income worth nearly INR 11,000
crore,” the ministry posted on X social media platform.
The FIU-IND is the central, national agency responsible
for receiving, processing, analysing and disseminating information relating to
suspect financial transactions to enforcement agencies and foreign FIUs.
The agency is also responsible for coordinating and
strengthening efforts of national and international intelligence, investigation
and enforcement agencies in pursuing global efforts against money laundering
and financing of terrorism.
FIU-IND is an independent body reporting directly to the
Economic Intelligence Council (EIC) headed by Finance Minister Nirmala
Sitharaman.
Last month, the FIUs of India and Qatar held a two-day
meeting to strengthen the relations between the two organisations and their
commitment to assist each other in fighting the menace of money laundering and
financing of terrorism.
Both sides also discussed various areas such as the IT
systems used by the respective jurisdiction, the public-private partnership
initiative of FIU-IND (FPAC), the private-private partnership for Alliance of
Reporting Entities in India for AML/CFT (ARIFAC), strategic analysis and
various tools used by the two FIUs as well as FIU-IND’s experience in the area
of virtual digital assets service providers.
