Financial Intelligence Unit-India and Indian Cyber Crime Coordination Centre sign landmark mou to combat cyber fraud and financial crimes
MoU will facilitate both agencies in developing operational information and support investigative agencies to prevent financial crimes, protect digital transactions and undertake asset recovery
In a significant step towards strengthening India's fight against cyber-frauds and financial crimes, the Financial Intelligence Unit-India (FIU-IND) and the Indian Cyber Crime Coordination Centre (I4C) signed a comprehensive Memorandum of Understanding (MoU) to enhance information sharing and coordination.
The MoU was signed by Shri Amit Mohan Govil, Director, FIU-IND, and Shri Rajesh Kumar, Chief Executive Officer, the Indian Cyber Crime Coordination Centre (I4C), marking a new era of collaborative intelligence sharing between the two agencies at the forefront of India’s fight against cyber fraud and financial crimes.
The collaboration comes at a juncture where India's digital payment ecosystem has undergone a tremendous transformation requiring guardrails that safeguard citizens from cybercrime and fraud. The MoU shall assist both agencies in developing operational information and support investigative agencies to prevent financial crimes, protect digital transactions and undertake asset recovery.
The MoU aims to enable both agencies to establish robust feedback mechanisms for enhancing fraud detection protocols at the national level, while also facilitating the development and dissemination of guidelines and red flag indicators to financial institutions to strengthen cyber fraud prevention efforts. This is a milestone in adopting a "whole of Government" in approach toward the fight against cyber-crime.
CAclubindia
