Regarding Financial Intelligence Unit India FIU IND which of the following statements is are correct...........

India and the world International Institutions

Regarding Financial Intelligence Unit - India (FIU-IND), which of the following statements is/are correct?

1. It was founded in 2012 after the occurrence of Sahara India Pariwar investor fraud case.

2. It is responsible for coordinating and strengthening efforts of national and international intelligence agencies in pursuing the global efforts against money laundering and related crimes.

3. It is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.

Select the correct answer using the code given below.

1, 2 and 3

1 only

2 and 3 only

1 and 2 only

Explanation:

Statement 1 is incorrect. Financial Intelligence Unit – India (FIU-IND) was set by the Government of India vide O.M. dated 18th November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions. Statement 2 is correct. FIU-IND responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and related crimes.

Statement 3 is correct. FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.

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