FIU helped detecting Rs 11k cr undisclosed income, 461 kg narcotics: FinMin

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FIU helped detecting Rs 11k cr undisclosed income, 461 kg narcotics: FinMin - Business Standard

Quick Summary:

The Financial Intelligence Unit (FIU) has helped in detection of undisclosed income of Rs 11,000 crore and seizure of 461 kg of narcotic drugs, the finance ministry said on Thursday.

The FIU under the finance ministry collects, analyses and disseminates information to law enforcement agencies about suspicious financial transactions pertaining to money laundering, terror and proliferation financing.

The intelligence shared by FIU-IND with agencies has led to Rs 983 crore worth of assets attached, Rs 2,763 crore worth criminal proceeds identified and Rs 10,998 crore undisclosed income detected.