December 31, 2009 5:39 PM

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Govt. signs MoU with Russia, Malaysia and Brazil

The government has signed Memoranda of Understanding (MoU) with Russia, Malaysia and Brazil this year for combating money laundering and terror financing. According to a senior Finance Ministry official, negotiations with more than 30 other countries are under process for enhancing international cooperation in fighting illegal routing of money for terror and Hawala like operations. India has also signed MoUs in this regard with Mauritius and the Philippines in 2008.<br/><br/>The MoUs will enable the country's Financial Intelligence Unit, FIU, to share information with foreign FIUs wherever considered necessary and reciprocally to obtain information from them on money-laundering activities, the official said.

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