The Defence Intelligence Agency (DIA), under the Defence Ministry, has been authorised to get details relating to suspected international wire transfers and banking transactions from Financial Intelligence Unit (FIU).
The DIA is the latest entrant in the list of 20 other organisations that are empowered to seek details from the FIU on dubious financial transactions.
The FIU shares information with Enforcement Directorate (ED), Central Bureau of Investigation (CBI), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), National Investigation Agency (NIA), Central Vigilance Commission (CVC), National Intelligence Grid (Natgrid) Central Economic Intelligence Bureau (CEIB), Supreme Court-appointed Special Investigation Team (SIT), Research and Analysis Wing (RAW), Intelligence Bureau (IB) and other agencies.
The move is aimed at arming the DIA with necessary details to act against terror funding and hawala transactions, mainly in Jammu and Kashmir and in the North-Eastern States of the country.
The Defence Intelligence Agency, set up following the recommendations of the Kargil Committee headed by eminent strategic expert K Subrahmanyam, provides technical inputs to the Defence Ministry and other agencies concerned.
The FIU is tasked with collecting, analysing and disseminating information related to financial transactions suspected to be black money or proceeds of crime. It receives and analyses Cash Transaction Reports (CTRs), Cross Border Wire Transfer Reports (CBWTRs), Reports on Purchase or Sale of Immovable Property (IPRs) and Suspicious Transaction Reports (STRs) from various reporting entities.
