Overview
The FIU‑IND and the SEBI have signed a comprehensive Memorandum of Understanding (MoU) to strengthen information sharing and joint action against money laundering and financial crimes.
Key Developments
- Signed by Shri Amit Mohan Govil, Director, FIU‑IND, and Shri Sandip Pradhan, Whole Time Member, SEBI.
- Establishes protocols for sharing intelligence from both agencies’ databases.
- Sets procedures for regulated entities to report under the PMLA and its PML Rules.
- Facilitates exchange of information with foreign FIUs through the Egmont Principles.
- Mandates quarterly coordination meetings and joint outreach/training programmes for market participants.
Important Facts
The MoU outlines several concrete actions:
- Sharing of AML and CFT intelligence between FIU‑IND and SEBI.
- Joint assessment of Money Laundering and Terror Financing (ML/TF) risks across securities‑related sub‑sectors.
- Identification and dissemination of “red‑flag” indicators for suspicious transactions to brokers, mutual funds, and other market intermediaries.
- Supervision of compliance by reporting entities with obligations under the