The Central Economic Intelligence Bureau was established in July 1985 responsible to the Department of Revenue, Ministry of Finance.[2] Along with the Income Tax Department it is India's chief agency responsible for economic intelligence, monitoring and fighting economic offences such as smuggling, money laundering, tax evasion and fraud.[2]
Organisation
The Central Economic Intelligence Bureau is headed by a Director General, who also carries the designation of Special Secretary to the Government of India.[2] The CEIB is the chief constituent of the Economic Intelligence Council and its functions are overseen by the Finance Minister of India. The sanctioned strength of the Bureau includes two Deputy Directors General and Joint Secretaries, a Joint Secretary (COFEPOSA), five Assistant Directors General, four Under Secretaries and eight Senior Technical Officers. Including intelligence officers and secretarial staff, the total strength of the bureau stands at 133.[2]
Functions
To collect information on various illegal economic activities and monitor sensitive and susceptible sectors of the Indian economy and financial sector.
To ensure the full implementation of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA).[1] It is also responsible for developing methods to counter such crimes and criminal organisations involved.[1]
It is the chief coordinator of other agencies in the Ministry of Finance that are responsible for fighting economic offences, as well as the agencies of state governments.
The CEIB also cooperates at the international level with the agencies of other countries responsible for customs, drugs and economic law enforcement.[1]
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