In order to check corruption, the Central Vigilance Commission (CVC) is keeping a close tab on suspicious banking transactions by government employees.
According to vigilance Commissioner TM Bhasin, the CVC is getting good inputs from the Financial Intelligence Unit (FIU) in this regard.
He also added that necessary action is being taken on the inputs received from the FIU.
The CVC has been regularly getting suspicious transactions reports (STRs) from the Financial Intelligence Unit (FIU) on dubious banking transactions involving public servants.
FIU is tasked with collecting, analysing and disseminating information related to financial transactions suspected to be involving black money or proceeds of crime.
STR is a transaction of Rs 10 lakh and above believed to be proceeds of crimes including that from black money. The main idea behind this exercise is to check the flow of proceeds through corrupt means and block all channels of routing black money through the banking system, officials said.
The examination of STRs will help in checking cases of collusion between private persons and government employees in corrupt practises, they said.
Besides the CVC, the FIU shares information with several other agencies, including the Enforcement Directorate, Central Bureau of Investigation, Reserve Bank of India, Securities and Exchange Board of India, National Investigation Agency, Central Economic Intelligence Bureau and chief secretaries of state governments.
The Supreme Court-appointed Special Investigation Team on black money is also one of the notified organisations which can seek information from FIU, an independent body reporting directly to the Economic Intelligence Council headed by the finance minister.
(With PTI inputs)
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