Jaitley to inaugurate International Conference on 'Networking the Networks' today
Updated: Nov 02, 2015 10:22:59am
New Delhi, Nov 2 (KNN) The Union Finance Minister Arun Jaitley will inaugurate the three day International Conference on ‘Networking the Networks’ in the national Capital today. The proposal to hold the ‘Networking the Networks’ meeting in India was agreed during the last visit of the Executive Director, UNODC to India on 3rd December, 2014 and his meeting with the Revenue Secretary.
Subsequently, the Executive Director, UNODC also met Jaitley and expressed his sincere appreciation for concurring to hold this International Conference in India. He has also reaffirmed UNODC’s readiness to further extend support to India and the region in countering trans-national organized crime and promoting drug prevention, treatment and care among vulnerable population groups.
He has suggested that this could start with - India hosting a “Networking the Networks” event on illicit money flows involving financial intelligence units from the region and beyond, as well as; the establishment of a regional coordination mechanism for intelligence sharing in criminal matters.
Networking the Networks conference is relevant in the context that South Asia region is vulnerable to the illicit financial flows from drugs, human trafficking, tax fraud etc. Informal money transfer systems are also popular in the world and can be easily misused by the criminal networks for the transfer of crime proceeds, as well as for terrorism financing.
The meeting will bring together law enforcement senior officials, as well as representatives of the existing global networks and successful regional networks from other regions, who can share their experience on combating illicit financial flows.
SARICC proposal for creation of regional platform for exchange of information/ intelligence on drug trafficking and related matters such as money laundering etc., with India in the lead, for the South Asian region was discussed during the visit of Executive Director of UNODC in . This platform would initially comprise the founding members Bangladesh, Bhutan, Myanmar, Maldives, Nepal and Sri Lanka besides India, and later on would be open to inclusion of other countries/ international organization as decided by the founding members, based on shared concerns. (KNN Bureau)
Subsequently, the Executive Director, UNODC also met Jaitley and expressed his sincere appreciation for concurring to hold this International Conference in India. He has also reaffirmed UNODC’s readiness to further extend support to India and the region in countering trans-national organized crime and promoting drug prevention, treatment and care among vulnerable population groups.
He has suggested that this could start with - India hosting a “Networking the Networks” event on illicit money flows involving financial intelligence units from the region and beyond, as well as; the establishment of a regional coordination mechanism for intelligence sharing in criminal matters.
Networking the Networks conference is relevant in the context that South Asia region is vulnerable to the illicit financial flows from drugs, human trafficking, tax fraud etc. Informal money transfer systems are also popular in the world and can be easily misused by the criminal networks for the transfer of crime proceeds, as well as for terrorism financing.
The meeting will bring together law enforcement senior officials, as well as representatives of the existing global networks and successful regional networks from other regions, who can share their experience on combating illicit financial flows.
SARICC proposal for creation of regional platform for exchange of information/ intelligence on drug trafficking and related matters such as money laundering etc., with India in the lead, for the South Asian region was discussed during the visit of Executive Director of UNODC in . This platform would initially comprise the founding members Bangladesh, Bhutan, Myanmar, Maldives, Nepal and Sri Lanka besides India, and later on would be open to inclusion of other countries/ international organization as decided by the founding members, based on shared concerns. (KNN Bureau)
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