The Central Vigilance Commission (CVC) has been getting information by the Financial Intelligence Unit (FIU) about suspicious banking transaction made by government employees.
In his statement to PTI Vigilance Commissioner T M Bhasin said the FIU has made the CVC aware of the suspicious transaction and the CVC is taking the required steps against the culprits. CVC is keeping a watch on all the transaction made by the government servants, as it is getting information from the FIU.
FIU collects the information related to the transactions made, analyse it and then further transfer it to the respected department. FIU does not scan all the transactions, only those are scanned which fall under the category of suspicious transactions reports (STR). If any transaction is made of Rs 10 lakh or above, it falls under the suspicion of proceeds of crime or black money and hence categorised under the STR.
If the FIU finds any such transaction under STR it investigates, analyses and then informs the CVC about it. Along with FIU, Enforcement Directorate, Central Bureau of Investigation, Reserve Bank of India, Securities and Exchange Board of India, National Investigation Agency, Central Economic Intelligence Bureau and chief secretaries of state government are also informed about the STRs. Apart from these agencies, The Supreme Court-appointed Special Investigation Team on black money is also notified.
Special Investigation Team is an independent body, headed by the Finance Minister and reports directly to the Economic Intelligence Council.
This whole process of investigating the STRs is initiated to control the corruption, keep an eye on all the major transactions being made and eradicate black money.