Context :
Coming
soon: A jailbird-like code to identify economic offenders …
15 May 2023
Extract :
In a far-reaching decision that might close the dragnet on
economic offenders swiftly through multi-pronged
action by investigative agencies, the
government is working on a plan to use an alpha-numeric code for both companies
and individuals, The Times of India has reported.
It will be known as a Unique
Economic Offender Code.
Once implemented it might label
individuals such as Vijay Mallya or Nirav Modi with such codes.
While errant companies will be tagged with a code that would be linked with
their PAN, the code for individuals will be linked to their Aadhaar, the report
said.
The step that is almost like that of slapping a number on
a jailbird is part of a bigger nationwide architecture
for efficient investigation and prosecution of
economic offences.
The Centre is putting together a National Economic
Offences Records that will be a database
of all economic offenders, both companies and individuals.
Once it is up and running, all information and data pertaining to economic offences at
the state and federal-level will be fed into this repository.
The aim of this project is to enable all economic law
enforcing agencies to
simultaneously start investigating and share information of such offenders and overcome the limitations of the present system which
demands that one agency can handover information to another only after it has
completed its work and filed the chargesheet. This practice often leads to
tardy investigation.
The new initiative would allow free flow of information by all
Union and state-level investigative agencies.
Incidentally, the Central Economic Intelligence Bureau has already put together
a database of 2.5 lakh economic offenders.
With economic offences frequently
obliterating geographical and political boundaries and the funds siphoned out
of one country being regularly employed in another for subversive activities,
the move seems to be a part of an international plan to rein in economic
offences such as money laundering.
An intergovernmental team from the
Paris-based Financial Action Task Force
is expected to visit India in a few
months to have a look at the progress of the architecture. This task force is
engaged in maintaining vigil over money laundering and terrorist financing.
The project might cost around Rs 40 crore
and might be ready in the next five months or so.
MY TAKE :
Ø E - Governance
? ……………………………
03 April
2014
Extract :
Can e-Governance help eliminate
corruption ?
Most certainly
Look at the following , partial list of Central and State Agencies set up to fight fraud , money-laundering , corruption , tax-evasion , economic crimes etc :
> Central Information
Commission ( CIC )
> Serious Fraud
Investigation Office ( SFIO )
> Department of Revenue
Intelligence ( DIR )
> Comptroller and Auditor
General ( CAG )
> Anti Corruption Bureaus ( States ).... ( ACB )
> Enforcement Directorate ( ED )
> Lok Ayukts ( States )
> Lok Pal ( Central )
Despite such an army of Agencies , how do corrupt manage to get away ?
Or , in case caught , manage to delay
delivery of punishment for years ?
No doubt , there must be several reasons , including , inter - agency rivalry to get credit - something difficult to eliminate altogether
But , I believe , the most important reason is :
Lack of a COMMON / COMPUTERIZED
database of all offences / cases / persons being investigated
And , which is readily "
Accessible " to all of these Agencies , all over the country ( 24 * 365 )
" Departmental Database " ,
which is never shared with other Agencies ,
leading to ,
What will help ?
> Dismantling of individual departmental databases
> Merging of all Agency-wise
databases into a SINGLE / UNIQUE database
> All Agencies to enter their findings / data / info into this COMMON
database ,
with nothing preserved on local computers
> All data-entry FORMS to be
ONLINE . No paper forms at all
> All local computers connected to ultra-secure Network ( Encrypted )
> " Access Rights " to individuals , based on Biometric Identification
Here is a
comparison made by ChatGPT :
Here is a tabulated comparison of the salient features of NEOR (extract from
"Coming soon: A jailbird-like code to identify economic offenders") and E-
Governance (extract from "Can
e-Governance help eliminate corruption?"):
|
Salient Features |
||
|
Objective |
Identify
economic offenders through a unique alpha-numeric code |
Eliminate
corruption and streamline governance |
|
Target Entities |
Companies
and individuals involved in economic offenses |
Central
and state agencies fighting fraud, corruption, and economic crimes |
|
Coding System |
Unique
Economic Offender Code linked to PAN (for companies) and Aadhaar (for individuals) |
N/A |
|
Database |
National
Economic Offences Records (NEOR) for storing information on economic
offenders |
Individual
departmental databases for each agency |
|
Information Sharing |
Enable
simultaneous investigation and information sharing among all economic law
enforcing agencies |
Lack
of a common/computerized database leads to duplication of efforts and
fragmented profiles |
|
Accessible |
Accessible
to all Union and state-level investigative agencies |
Limited
accessibility and sharing of information between agencies |
|
Cost |
Estimated
cost of around Rs 40 crore |
N/A |
|
Timeline |
Expected
to be ready in the next five months or so (May 2023) |
N/A |
|
Focus |
Efficient
investigation and prosecution of economic offenses, including money
laundering |
Fighting
fraud, corruption, and economic crimes |
|
International Cooperation |
Expected
visit by an intergovernmental team from the Paris-based Financial Action Task
Force to review progress |
N/A |
Please note that the information
provided in the extracts is limited, and some details may be missing.
With regards,
Hemen Parekh
www.hemenparekh.ai /
16 May 2023
Related
Readings ( 15 Reminder E Mails to Cabinet Ministers ) :
Ø A
Half-hearted Measure ? …………………..
07 Mar
2016
Ø Still
a long way to go ! ………………………..
25 Aug
2016
Ø United
we Succeed : Divided we Fail …. 29
Sept 2016
Ø Keep Trying …………………………………………..
24 Dec
2016
Ø Break-down
the Silos ! …………………………. 16 Sept 2017
Ø Blockchain
for E Governance ?.. ……………04 Dec 2017
Ø Crime
and Punishment …………………………….. 23 Dec 2017
Ø CyberCrimes
/ DigitalIndia / e-Governance …
09 Jan 2018
Ø Blame
Game Continues…………………………….09 Apr 2018
Ø An
Umbrella Body ? A Distant Echo ? … ………..01
Apr 2022
Ø Thank
You, Shri Karnal Singhji,……………………… 12
Apr 2022
Ø DATA
is better than Third Degree …………………
25 Apr
2022
Ø Welcome
NATGRID : Thank You, Shri Amitbhai Shah .. 04 May 2022
Ø ED
says : No ED ( Escape of Data ) ………………. 28 Nov 2022
Ø
One Stop Shop for White Collar Criminals …… 11 Apr 2023
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