Intelligence agencies, including Research & Ananysis Wing and Central Bureau of Investigation, have been forwarded a list of around 100 people with criminal background -- some of whom are on the Interpol watch list -- suspected to be using Indian financial institutions such as banks and stock markets to divert funds.
Official sources said the Financial Intelligence Unit, which has been given the charge to monitor money laundering activities through financial institutions, has forwarded around 300 cases to aw enforcement agencies including the Enforcement Directorate for further action.
Around 100 cases have also been forwarded by the FIU to intelligence agencies, besides the RBI, SEBI and IRDA for further investigation and action, they said.
Some cases relating to suspected financing of activities related to terrorism have also been forwarded to the Ministry of Home Affairs, Intelligence Bureau and the CBI for action.
"During 2006-07, FIU has analysed 646 suspected transacted reports on the basis of information collected from banks and other financial institutions. Out of this, 391 cases have been forwarded to agencies," said official sources.
The issue of suspected financial transactions, including funding in stock markets, was reportedly raised in the annual conference of the director general and inspector general of police that began in Delhi on Wednesday.
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