NEW DELHI: Like a “Billa” number for every prisoner, the government will soon issue a unique code for every person or company accused of economic crimes. The identification number is called the ‘Unique Economic Offender Code’ which is specific to each offender and linked to their Aadhaar number in the case of an individual or their PAN in the case of a company.
The Treasury Department’s Central Economic Intelligence Bureau has created a database of about 2.5 million white-collar offenders. The idea of ​​having a unique code for each suspect is to quickly launch a multi-agency investigation against them, as opposed to the current practice of waiting for one agency to complete its investigation and file an indictment or criminal complaint before proceeding further Disclosure to others is investigation.
According to sources, this unique code will be alphanumeric and based on PAN or Aadhaar so companies and individuals can flag and have a 360-degree profile of all white-collar crime cases against them. This is system-generated code that is created when the police or a central intelligence or law enforcement agency feeds data into the under-construction central repository of NOT – National Economic Crime Records.
So people like the refugee Vijay Mallya, the former Finance Minister P. Chidambaram or the former Deputy Prime Minister of Delhi Manish Sisodia and his colleague Satyendar JainAll of whom face serious money laundering charges are identified with a unique white-collar offender code.
As TOI previously reported, NEOR is a centralized database of all white-collar crime, sharing data on each white-collar crime with all central and state intelligence and law enforcement agencies. The NEOR will be built with a budget of around Rs 40 billion according to sources and the Central Economic Intelligence Bureau has been tasked with coordinating and completing the project with the help of the National Informatics Centre.
According to sources, NEOR will be completed in the next 4 to 5 months and all central and state agency data will be migrated to the national repository using API (Application Programming Interface) software, reducing any scope for manual intervention.
The NEOR will be a flagship project for India to be presented at the forthcoming Financial Action Task Force (FATF) review scheduled sometime this year. A high-level team from the Paris-based intergovernmental regulator is due to visit in the coming months to assess India’s anti-money laundering and terrorist financing legislation and enforcement efforts.
The Treasury Department’s Central Economic Intelligence Bureau has created a database of about 2.5 million white-collar offenders. The idea of ​​having a unique code for each suspect is to quickly launch a multi-agency investigation against them, as opposed to the current practice of waiting for one agency to complete its investigation and file an indictment or criminal complaint before proceeding further Disclosure to others is investigation.
According to sources, this unique code will be alphanumeric and based on PAN or Aadhaar so companies and individuals can flag and have a 360-degree profile of all white-collar crime cases against them. This is system-generated code that is created when the police or a central intelligence or law enforcement agency feeds data into the under-construction central repository of NOT – National Economic Crime Records.
So people like the refugee Vijay Mallya, the former Finance Minister P. Chidambaram or the former Deputy Prime Minister of Delhi Manish Sisodia and his colleague Satyendar JainAll of whom face serious money laundering charges are identified with a unique white-collar offender code.
As TOI previously reported, NEOR is a centralized database of all white-collar crime, sharing data on each white-collar crime with all central and state intelligence and law enforcement agencies. The NEOR will be built with a budget of around Rs 40 billion according to sources and the Central Economic Intelligence Bureau has been tasked with coordinating and completing the project with the help of the National Informatics Centre.
According to sources, NEOR will be completed in the next 4 to 5 months and all central and state agency data will be migrated to the national repository using API (Application Programming Interface) software, reducing any scope for manual intervention.
The NEOR will be a flagship project for India to be presented at the forthcoming Financial Action Task Force (FATF) review scheduled sometime this year. A high-level team from the Paris-based intergovernmental regulator is due to visit in the coming months to assess India’s anti-money laundering and terrorist financing legislation and enforcement efforts.
