India posts intelligence officers in China to curb financial crime, including TBML

India will post customs intelligence officers in China in its efforts to curb financial crime, including trade-based money laundering (TBML) and black market currency trading according to official sources.

Initially, two new posts will be created within India’s Customs Overseas Intelligence Network (COIN).

Beijing and Guangzhou

One intelligence officer will be posted at the Indian Embassy in Beijing and another will work from the Consulate General of India at Guangzhou.

The Directorate of Revenue Intelligence (DRI), India’s lead agency in the country’s efforts to curb customs fraud and smuggling, initiated the move. The finance ministry has begun the process of selecting officers for the postings.

TBML mandate

Once in post, the intelligence officers will be expected to curtail incidents of TBML and other financial crimes originating in China, the officials said.

COIN officers are usually mandated to pass on intelligence or information gathered from their respective positing stations overseas to help the DRI, and on some occasions other Indian intelligence agencies, to investigate suspected financial crimes.



Categories: Trade Based Financial crimes News