RBI, FIU-IND Sign MoU to Bolster Anti-Money Laundering Efforts

 

The Reserve Bank of India (RBI) and Financial Intelligence Unit-India (FIU-IND) today signed a Memorandum of Understanding (MoU) as part of continued coordinated efforts in effective implementation of requirements of the Prevention of Money Laundering Act and Rules framed under it. The MoU was signed by Director of FIU-IND Vivek Aggarwal and Executive Director, Department of Regulation of RBI R.L.K. Rao. According to the MoU, FIU-IND and RBI will cooperate with each other in the areas of mutual interest.

 

It includes sharing of relevant intelligence and information, available in their respective database and upgradation of Anti-Money Laundering and Combating Financing of Terrorism skills in the regulated entities. Both sides will also conduct outreach and training for regulated entities and make assessment of Money Laundering and Terror Financing risks and vulnerabilities in the relevant financial sub-sectors