New Delhi: The government has signed
memoranda of understanding with Russia, Malaysia and Brazil
this year for combating money laundering and terror financing.
Negotiations with more than 30 other countries is under
process for enhancing international cooperation in fighting
illegal routing of money for terror and Hawala like
operations, a senior Finance Ministry official has said.
India has also signed MoUs in this regard with Mauritius
and the Philippines in 2008.
The MoUs will enable the country`s Financial Intelligence
Unit (FIU)-- a government agency to investigate and
disseminate information between financial and law enforcement
agencies for identification of suspicious money laundering --
to share information with foreign FIUs wherever considered
necessary and reciprocally to obtain information from them on
money-laundering activities, the official said.
The government, in the same context this year, received
69 requests of information from foreign financial intelligence
units while it sent 17 such requests to other countries.
The Union government has also established Joint Working
Groups (JWG)-- comprising senior officials from enforcement
agencies -- with a number of countries like the US, Germany,
the UK and Russia on various operational issues relating to
terrorism and other crimes including money laundering and drug
A joint meet was held with Russia this year, the Finance
Ministry official added.