New Delhi, Dec 12: The Financial Intelligence Unit-India (FIU-IND) detected undisclosed income worth nearly Rs 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 Rs 10,998 crore worth of unidentified income, identified Rs 2,763 crore worth of criminal proceeds and attached Rs 983.4 crore worth of assets this year.
Also, the central nodal agency seized 461 kgs worth of narcotics and psychotropic substances, levied Rs 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 Rs 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.
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