The government has allowed the Enforcement Directorate (ED) to share information about economic offenders with 15 more agencies, including Serious Fraud Investigation Office (SFIO), the Competition Commission of India (CCI), and the National Investigation Agency (NIA).
The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22.
Through the notification, the ED, which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
These 15 agencies include the NIA, SFIO, State Police Department, regulators under various Acts, Directorate General of Foreign Trade (DGFT), Ministry of External Affairs, and the CCI.
National Intelligence Grid, Central Vigilance Commission (CVC), Defence Intelligence Agency, National Technical Research Organisation, Military Intelligence, the inquiry authority under Central Civil Services Rules, and Wildlife Crime Control Bureau too have been added to the list of agencies for data sharing.
Earlier, the ED was permitted to share data with only 10 agencies, including CBI, RBI, Sebi, IRDAI, Intelligence Bureau, and Financial Intelligence Unit (FIU), among others.
AMRG & Associates Senior Partner Rajat Mohan said officers under the Prevention of Money Laundering Act (PMLA) are now authorized to share incriminating information and material with 25 agencies.
This change will integrate numerous state and central government agencies, empowering them with verified information related to an outlaw.
"Sharing information among numerous agencies will help them to apprehend social evils and bring them to justice in the court of law," Mr Mohan said.
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