Financial Intelligence Unit

Explanation :

• Financial Intelligence Unit – India (FIU-IND) was set by the Government of India on 18th November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions.
• It is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.
• FIU-IND is a multi disciplinary body with a sanctioned strength of 75 personnel. These are being inducted from different organizations namely Central Board of Direct Taxes (CBDT), Central Board of Excise and Customs (CBEC), Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Department of Legal Affairs and Intelligence agencies.
• FIU-IND is 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.