Sebi and FIU-India Enhance Collaboration to Combat Money Laundering
Sebi, FIU-India sign pact to strengthen anti-money laundering efforts
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On April 15, 2023, the Securities and Exchange Board of India (Sebi) signed a memorandum of understanding with the Financial Intelligence Unit-India (FIU-India) to bolster efforts against money laundering and fraud in the securities market. This agreement aims to facilitate data sharing and enhance surveillance under the Prevention of Money Laundering Act, 2002.
- 01Sebi signed a MoU with FIU-India on April 15, 2023.
- 02The agreement aims to enhance cooperation in combating money laundering and fraud.
- 03Regular data sharing will strengthen surveillance in the securities market.
- 04The MoU incorporates Egmont principles for information exchange.
- 05The agreement is effective from April 15, 2026.
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On April 15, 2023, the Securities and Exchange Board of India (Sebi) signed a memorandum of understanding (MoU) with the Financial Intelligence Unit-India (FIU-India) to enhance cooperation in combating money laundering and fraud within the securities market. The agreement aims to facilitate mutual cooperation by incorporating the Egmont principles of information exchange, which are critical for effective implementation of the Prevention of Money Laundering Act, 2002. Under this pact, Sebi and FIU-India will regularly share data and information to strengthen surveillance and curb fraudulent activities. The MoU was signed by Amit Mohan Govil, Director of FIU-India, and Sandip Pradhan, Whole-Time Member of Sebi, with senior officials from both organizations present. The agreement will come into effect on April 15, 2026.
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This agreement will enhance the regulatory framework for securities, potentially leading to increased investor confidence and reduced fraudulent activities in the market.
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