FIU-IND, SEBI, PFRDA & DoT Sign MoUs To Expand Financial Data Sharing Network

Financial Intelligence Unit India (FIU-IND) has signed memorandums of understanding (MoU) with the Securities and Exchange Board of India (SEBI) and Pension Fund Regulatory and Development Authority (PFRDA) to expand coordination and data exchange. The Ministry of Finance (MoF) said the agreements are aimed at addressing money laundering and financial crime.

Under the framework, the agencies will share information from their databases and set reporting procedures for regulated entities in line with rules under the Prevention of Money Laundering Act. The arrangement includes the exchange of information with foreign financial intelligence units based on global standards. The agencies will also carry out training programmes, assess risks across financial segments, and identify indicators linked to suspicious transactions. Coordination will be managed through nodal officers and periodic meetings.

Separately, SEBI has signed agreements with the Department of Telecommunications and FIU-IND to expand data-sharing systems linked to fraud detection. The regulator will use the Digital Intelligence Platform of the telecom department to track misuse of telecom resources linked to financial transactions. The agreement with FIU-IND provides for the exchange of financial data to track illicit flows and support monitoring and enforcement in the securities market.