India and mauritius to crack down on economic crimes!
India's Enforcement Directorate (ED) and Mauritius' Financial Crimes Commission (FCC) have signed an important agreement (MoU) to curb financial crimes and illegal activities like money laundering. This agreement was signed in the presence of India's prime minister Narendra Modi and Mauritius' Prime Minister Dr. Navinchandra Ramgoolam.
The purpose of this agreement is to strengthen cooperation between the two countries in matters like money laundering, corruption, fraud, illegal funding and asset seizure.
India will be more strict about financial crimes
With this agreement, india is further strengthening its resolve to crack down on financial crimes and recover illegal assets at the international level. This initiative of india is in line with the promises made under FATF (Financial Action Task Force) and other global anti-money laundering frameworks.
ED has so far got property worth Rs 2.6 billion back to the victims. During the agreement, the ED director said that investigation and action against economic crimes in India has been strengthened under the Prevention of Money Laundering Act, 2002 (PMLA). Through Section 8(7) and 8(8) of this law, illegal properties can be confiscated even before the conviction and the victims can be given their rights back. ED has so far got property worth Rs 2.6 billion back to the victims. Economic and security cooperation between india and mauritius will be strengthened. During the agreement, ED and FCC officials discussed joint operations, investigation, prosecution and exchange of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital forensic techniques. Both agencies agreed to share modern technology for data analysis and gathering wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital evidence. Along with this, there was talk of improving the investigation process through training and exchange programs of officials. This partnership will not only control financial crimes, but will also strengthen economic and security cooperation between india and Mauritius.
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