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

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.



Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel