Govt employee’s Banking transactions are under Central Vigilance Commission(CVC) scanner
The Central Vigilance Commission (CVC) has stepped up its examination of suspicious banking transactions by government employees to check corruption.
“The Commission is getting good inputs from the Financial Intelligence Unit (FIU) and necessary action is being taken on them,” Vigilance Commissioner T M Bhasin told PTI today.
The CVC has been regularly getting suspicious transactions reports (STRs) from the Financial Intelligence Unit (FIU) on dubious banking transactions.
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 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.