One Stop Shop for White Collar Criminals
Context :
( source : Hindustan Times – Print Edition – 11April 2023 )
The Centre will by end of May roll out a new data repository called the National Economic Offence Records, which will provide real-time information on white-collar crime and criminals to law enforcement and intelligence agencies.
The web-based database will integrate data of all key financial crimes investigated by intelligence and probe agencies including ,
# CBI
# ED
# Income-tax department ( IT )
# Directorate of Revenue and Intelligence ( DRI )
# Serious Fraud Investigation Office ( SFIO )
# GST Intelligence,
# Customs, etc.,
- for better coordination and quick dissemination information, officials said
“Created on the lines of National Crime Records Bureau, which collates and analyses data related to all crimes across the country, the NEOR will focus only on financial crimes,” an official said, seeking anonymity.
The repository was envisaged in 2019 by the Central Economic Intelligence Bureau, the nodal agency on economic intelligence under the finance ministry, but it could not take off due to the pandemic.
The NEOR will be different from NEIN as :
Ø It can be accessed by all economic offences’ probe officers anywhere in the country;
Ø They would also be able to update their findings in real-time,
Besides, all studies and analyses related to :
# hawala (informal cross-border transfer of funds),
# modus operandi such as trade-based money laundering,
# use of businesses to transfer funds to terror organisations,
# tax havens across the world
# diversion of income
# corporate frauds
- will be maintained in the system, he said.
“A centralised repository is a much-needed reform, which will significantly help prosecutorial efforts, and hopefully cut down investigation time by making available data that normally would take several months to obtain,” said Sherbir Panag, an expert on white-collar crime and founder of Panag & Babu, a law firm.
“At the same time, the rights of accused persons must be protected, and investigations must not be prejudiced merely on account of FIRs,” Panag added.
My Take :
Dear Narendrabhai ,
During past week, [ and especially after the Supreme Court verdict dismissing the petition filed by some Opposition Political Leaders ] , on a number of occasions you have publicly vowed to put an end to White Collar Corruption in our country, which was allowed to spread like a Cancer , over past many decades
No one can doubt your sincerity of purpose
But , with 2024 General Elections approaching fast , question does linger in the minds of citizen :
“ Can / Will , the Bureaucrats keep up with your seriousness ? “
Reason for this doubt :
It has taken the bureaucrats , some 9 YEARS to come close to implementing my following suggestion ( sent as Emails to all the Cabinet Ministers ) :
E - Governance ? …………. 03 April 2014
Extract :
Can e-Governance help eliminate corruption ?
Most certainly
Look at the following , partial list of Central and State Agencies set up to fight fraud , money-laundering , corruption , tax-evasion , economic crimes etc :
> Public Accounts Committee ( PAC )
> Central Vigilance Commission ( CVC )
> Central Information Commission ( CIC )
> Research and Analysis Wing ( RAW )
> Serious Fraud Investigation Office ( SFIO )
> Information Bureau ( IB )
> Economic Offence Wing ( EOW )
> Central Bureau of Investigation ( CBI )
> Department of Revenue Intelligence ( DIR )
> Comptroller and Auditor General ( CAG )
> Anti Corruption Bureaus ( States ).... ( ACB )
> Enforcement Directorate ( ED )
> Lok Ayukts ( States )
> Lok Pal ( Central )
Despite such an army of Agencies , how do corrupt manage to get away ?
Or , in case caught , manage to delay delivery of punishment for years ?
No doubt , there must be several reasons , including , inter - agency rivalry to get credit - something difficult to eliminate altogether
But , I believe , the most important reason is :
Lack of a COMMON / COMPUTERIZED database of all offences / cases / persons being investigated
And , which is readily " Accessible " to all of these Agencies , all over the country ( 24 * 365 )
Already , every Agency compiles huge dossiers on " Suspects " in its own " Departmental Database " , which is
never shared with other Agencies , leading to ,
> Huge amount of duplication of efforts / information
> Fractured / scattered profiles of " Suspects "
> Enormous waste of time / resources
What will help ?
> Dismantling of individual departmental databases
> Merging of all Agency-wise databases into a SINGLE / UNIQUE database
> All Agencies to enter their findings / data / info into this COMMON database , with nothing preserved on
local computers
> All data-entry FORMS to be ONLINE . No paper forms at all
> All local computers connected to ultra-secure Network ( Encrypted )
> " Access Rights " to individuals , based on Biometric Identification
Will BJP want to make this , a prominent promise in their Poll-Manifesto , likely to be released on 7th April ? (
Congress / AAP missed this boat ! )
It is high time political parties stop talking of motherhood in vague terms and start telling the voters ,
" If you vote us to power , this is precisely what we will do , to bring about E-GOVERNANCE - and do it within
6 months of assuming power "
* hemen parekh ( 04 April 2014 / Mumbai )
Following is how ChatGPT compared my 2014 suggestion with what Central Government is about to implement :
Basic Concept | Proposal from 2014 | NEOR Scheme by Indian Central Government |
Centralized database | Yes | Yes |
Integration of data from multiple agencies | Yes | Yes |
Real-time information sharing | Yes | Yes |
Focus on financial crimes | Yes | Yes |
Accessible to all relevant officers | Yes | Yes |
Online forms and data entry | Yes | Yes |
Ultra-secure network | Yes | Yes |
Protection of accused persons' rights | Not specified | Yes |
Related Readings :
A PARTIAL LIST OF PAST FRAUDS – SCAMS [ Source : Janmbhumi- Pravvasi / 09 April 2023 ]
Serial No | Fraud Known as | Estimated Loss to Public ( Direct + Indirect ) Rs Crores |
|
|
|
1987 | Bofors | 960 |
|
|
|
1992 | Shares ( Equity ) | 5,000 |
|
|
|
1994 | Sugar | 650 |
|
|
|
1995 |
|
|
| Professional Allotment | 5,000 |
|
|
|
| Customs Tax | 43 |
|
|
|
| Cobbler | 1,000 |
|
|
|
| Dinar / Hawaala | 400 |
|
|
|
| Meghalay Forest | 300 |
|
|
|
|
|
|
1996 | Fertilizer Import | 1,300 |
|
|
|
1997 |
|
|
| Bihar Land | 400 |
|
|
|
| Mutual Fund | 1,200 |
|
|
|
| Sukhram Telephone | 1,500 |
|
|
|
| SNC Power Project | 374 |
|
|
|
|
|
|
1998 |
|
|
| Uday Goyal Agri Produce | 595 |
|
|
|
| Saag Tree | 8,000 |
|
|
|
2001 |
|
|
| Dalmia Share | 595 |
|
|
|
| UTI | 32 |
|
|
|
2002 |
|
|
| Sanjay Agrawal Home Investment | 600 |
|
|
|
| Ketan Mehta Securities | 1,000 |
|
|
|
| Calcutta Stock Exchange | 120 |
|
|
|
2003 | Stamp Paper | 20,000 |
|
|
|
2005 |
|
|
| IPO Corridor | 1,000 |
|
|
|
| Bihar Flood Relief | 17 |
|
|
|
| Scorpian Submarine | 18, 978 |
|
|
|
2006 | Taj Corridor | 175 |
|
|
|
2008 |
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