Eastern know-how – India’s Financial Intelligence Unit

India - a US$692 billion economy, the tenth largest in the world and growing at 8% annually (source: World Bank) – only recently set up a Financial Intelligence Unit; it still has much to prove. Raghavendra Verma reports from New Delhi.

FIU view

The Indian Financial Intelligence Unit (FIU), set up in November 2004 as the national independent anti-money laundering (AML) agency, reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister, may face major challenges but at least it can do so in pleasant surroundings. Having previously operated out of the Finance Ministry building, in March this year it relocated to the top floor of a government-owned five star hotel.