Strengthening Anti-Money Laundering: FIU-IND Signs MoUs with PFRDA and SEBI

  • In a significant step towards strengthening India’s fight against money laundering and financial crimes, the Financial Intelligence Unit-India (FIU-IND) signed Memoranda of Understanding (MoUs) with the Pension Fund Regulatory and Development Authority (PFRDA) and Securities and Exchange Board of India (SEBI).

Key Highlights of MoUs

  • ¨   The MoUs focus on real-time information sharing and intelligence exchange between FIU-IND and the two regulators to detect suspicious financial activities. 
  •       The collaboration includes joint training and outreach programmes to enhance Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) capabilities.
  •    The initiative aims to strengthen India’s financial surveillance framework and combat money laundering and terror financing through enhanced inter-agency coordination.

Financial Intelligence Unit-India (FIU-IND)

  • ¨   Established in November 2004 under the Ministry of Finance, FIU-IND is the central national agency responsible for receiving, analysing, and disseminating information related to suspicious financial transactions.
  •    It plays a key role in combating money laundering and financing of terrorism by coordinating with domestic and international agencies.
  •       The unit also acts as a repository of financial intelligence and supports enforcement agencies in financial investigations.

Pension Fund Regulatory and Development Authority (PFRDA)

  • ¨     The PFRDA is a statutory body established under the PFRDA Act, 2013.
  •     It regulates and supervises the pension sector, including the National Pension System (NPS) and Atal Pension Yojana.
  •    It ensures the orderly growth of pension markets and protection of subscriber interests through a comprehensive regulatory framework.

Securities and Exchange Board of India (SEBI)

  • ¨     The SEBI is the statutory regulator of India’s securities market, established under the SEBI Act, 1992.
  •        It oversees market intermediaries, listed companies, and investor protection mechanisms.
  •     SEBI plays a critical role in ensuring the transparency, integrity, and orderly functioning of the securities market in India.