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Finmin to set-up Directorate of Criminal Investigation by end of May, 2011

The Finance Ministry is likely to set up Directorate of Criminal Investigation, a specialised wing to probe cases of black money, money laundering and terror funding, by the end of this month.

“A dedicated unit called Directorate of Criminal Investigation will look into the nexus between black money (which is illegally acquired), money laundering, and in extreme cases, terror funding. The Directorate would be notified within this month”, a Finance Ministry official told PTI.

The specialised wing — Directorate of Criminal Investigation (Income Tax)– will be manned by hand-picked officers who are experts in financial and forensic investigations.

The I-T department, which has unearthed about Rs 30,000 crore black money in the past two years, has begun putting necessary infrastructure for the new unit.

Finance Minister Pranab Mukherjee gave his approval for the creation of the new unit earlier in the month.

Tag: Finance Ministry

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