{"id":21047,"date":"2024-02-29T11:37:19","date_gmt":"2024-02-29T06:07:19","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=21047"},"modified":"2025-04-06T09:26:59","modified_gmt":"2025-04-06T03:56:59","slug":"fiu","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/fiu\/","title":{"rendered":"Financial Intelligence Unit"},"content":{"rendered":"<h2>About Financial Intelligence Unit<\/h2>\n<ul>\n<li>It was set by the Government of India in\u00a0November 2004.<\/li>\n<li>It is the central national agency responsible for\u00a0receiving, processing, analyzing and disseminating information relating to\u00a0suspect financial transactions.<\/li>\n<li>It is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and financing of terrorism.<\/li>\n<li>It is an\u00a0independent body reporting directly to\u00a0the Economic Intelligence Council (EIC)\u00a0headed by the union Finance Minister.<\/li>\n<li>Functions:\n<ul>\n<li>Collection of Information: Act as the central reception point for receiving Cash Transaction reports (CTRs),Non-Profit Organisation Transaction Report(NTRs), Cross Border Wire Transfer Reports (CBWTRs), Reports on Purchase or Sale of Immovable Property (IPRs) and Suspicious Transaction Reports (STRs) from various reporting entities.<\/li>\n<li>Analysis of Information: Analyze received information in order to uncover patterns of transactions suggesting suspicion of money laundering and related crimes.<\/li>\n<li>Sharing of Information: Share information with national intelligence\/law enforcement agencies, national regulatory authorities and foreign Financial Intelligence Units.<\/li>\n<li>Act as Central Repository: Establish and maintain national data base on the basis of reports received from reporting entities.<\/li>\n<li>Coordination: Coordinate and strengthen collection and sharing of financial intelligence through an effective national, regional and global network to combat money laundering and related crimes.<\/li>\n<li>Research and Analysis: Monitor and identify strategic key areas on money laundering trends, typologies and developments.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) What is the mandate of the Economic Intelligence Council?<\/h3>\n<p>The mandate of EIC is to combat economic offences through intelligence gathering on issues relating to economic security, provide inter-agency coordination and deal with economic offences in an effective manner.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/policy\/rbi-tweaks-norms-related-to-regulatory-sandbox-scheme\/articleshow\/108080201.cms\" target=\"_blank\" rel=\"nofollow noopener\"><u>RBI tweaks norms related to Regulatory Sandbox scheme<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Intelligence Unit  is the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions.<\/p>\n","protected":false},"author":5,"featured_media":21048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-21047","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=21047"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/21048"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=21047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=21047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=21047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}