ED gets max tip offs for money laundering from media, social sites: FATF

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The story "ED gets max tip offs for money laundering from media, social sites: FATF" was covered 1 weeks ago by Business Standard, a news publisher based in India.

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ED gets max tip offs for money laundering from media, social sites: FATF - Business Standard

Quick Summary:

"The largest number of money laundering investigations are identified by ED (Enforcement Directorate) from open sources; from the general public, media reporting and information from social networks followed by verification of the information via the CCTNS (crime and criminal tracking network and systems) database and money laundering reports by LEAs (law enforcement agencies)," the report said.

Open source inputs like media reports, social media comments, tip offs and complaints form the bulk of information that leads the ED to identify potential money laundering cases, the FATF said on Thursday in its latest mutual evaluation report for India.

The Financial Action Task Force (FATF), which steers the combat against money laundering and terrorist financing crimes, also lauded India's systems and regime created for this battle as it asked the country to bring about "major improvements" to strengthen prosecution in such cases.