To track economic offenders, India to collate e-database

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News:The Central Government is preparing a comprehensive database of economic offenders called the National Economic Offence Records(NEOR).

Facts:

About National Economic Offence Records(NEOR):

  • The National Economic Offence Records(NEOR) will be a web portal that will disseminate information to grassroots level officers of enforcement and investigating agencies. 
  • The database will help in coordinated actions by multiple agencies against corrupt officials and corporate houses indulging in financial frauds and money laundering.
  • The database is being prepared by the Central Economic Intelligence Bureau (CEIB),an arm of the finance ministry along with National Informatics Centre(NIC).

Which agencies are included in the database?

  • All agencies including CBI, Enforcement Directorate, Income Tax, Directorate General of Goods and Services Tax Intelligence have been asked to regularly update the portal from their nationwide offices.
  • In addition to central agencies, the economic offences wing of state police and other agencies will also have to participate in the NEOR.
  • The individual database of these agencies will be automatically incorporated into the NEOR through specific software application. 

What is the present mechanism?

  • Currently,the Central Economic Intelligence Bureau (CEIB) runs a captive database called Secured Information Exchange Network(SIEN).
  • The SEIN operates on intranet (not available online) and information on economic offenders are shared with headquarters of 13 select central agencies. 

Additional information:

About Central Economic Intelligence Bureau(CEIB):

  • Central Economic Intelligence Bureau(CEIB) was setup in the year 1985 under Department of Revenue,Ministry of Finance.
  • It is the nodal agency for economic intelligence mandated to ensure effective interaction and coordination among all the concerned agencies in the area of economic offences.
  • It is headed by a Director General who carries the designation of Special Secretary to the Government of India.

About National Informatics Centre(NIC):

  • The National Informatics Centre (NIC) is an institute set up by the Indian government in 1976 to drive its technology and e-governance initiatives in the country.
  • The institute is part of the Indian Ministry of Electronics and Information Technology’s Department of Electronics & Information Technology.
  • NIC has the mandate to set up, implement and support all the information technology led-programs of the central and state governments and other government organizations in India.