Government sets up high-level panel to check money laundering activities

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Published: October 7, 2019 10:08:06 PM

The 19-member Inter-Ministerial Co-ordination Committee (IMCC) has five secretaries, including from ministries of finance and external affairs, and chiefs of various regulatory authorities, as well as probe agencies, according to a notification.

The committee would also work on development and implementing policies on anti-money laundering and countering the financing of terrorism.

The government on Monday set up a high-level inter-ministerial committee chaired by revenue secretary for better coordination among various departments and law enforcement agencies to prevent money laundering activities. The 19-member Inter-Ministerial Co-ordination Committee (IMCC) has five secretaries, including from ministries of finance and external affairs, and chiefs of various regulatory authorities, as well as probe agencies, according to a notification.

Besides ensuring operational co-operation between the government, law enforcement agencies, the Financial Intelligence Unit-India and the regulators or supervisors, the committee would also work on development and implementing policies on anti-money laundering and countering the financing of terrorism.

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