In a major step to combat rising cyber fraud and financial crimes, the Financial Intelligence Unit-India (FIU-IND) and the Indian Cyber Crime Coordination Centre (I4C) on Thursday signed a comprehensive Memorandum of Understanding (MoU) to enhance coordination and intelligence sharing.
The agreement was signed by Amit Mohan Govil, Director of FIU-IND, and Rajesh Kumar, Chief Executive Officer of I4C, marking a significant milestone in strengthening collaboration between the two key agencies at the forefront of tackling financial and cyber-related offences in the country.
The move comes at a time when India’s digital payments ecosystem has expanded rapidly, increasing the need for robust safeguards to protect citizens from online fraud and financial crimes. The Ministry of Finance said the MoU would facilitate the development of operational intelligence and provide support to investigative agencies in preventing financial crimes, safeguarding digital transactions, and enabling asset recovery.
Under the agreement, both agencies will establish stronger information-sharing mechanisms and feedback systems to improve fraud detection at the national level. The partnership will also focus on developing and disseminating guidelines and “red flag” indicators for financial institutions to help them identify and prevent cyber fraud more effectively.
The initiative reflects a “whole-of-government” approach to tackling cybercrime, ensuring closer coordination between financial intelligence, law enforcement, and regulatory bodies.
FIU-IND serves as the national agency responsible for analysing and disseminating information related to suspicious financial transactions and combating money laundering and terror financing. Meanwhile, I4C, functioning under the Ministry of Home Affairs, provides a coordinated framework for law enforcement agencies to deal with cybercrime.
I4C has developed several platforms, including the National Cybercrime Reporting Portal and other intelligence-sharing systems, to enable real-time coordination among law enforcement agencies, banks, and financial institutions.
The Ministry said the MoU is expected to significantly enhance India’s ability to detect, prevent, and respond to cyber fraud, while strengthening the overall security of the country’s digital financial ecosystem.
