Financial Intelligence Unit–India and Pension Fund Regulatory and Development Authority Sign MoU to Strengthen India’s Fight Against Money Laundering

In a significant step towards bolstering India’s defences against money laundering and financial crimes, the Financial Intelligence Unit–India (FIU‑IND) and the Pension Fund Regulatory and Development Authority (PFRDA) have signed a comprehensive Memorandum of Understanding (MoU) to enhance information sharing and coordination.

The MoU was signed by Shri Amit Mohan Govil, Director, FIU‑IND, and Shri Randip Singh Jagpal, Whole Time Member, PFRDA, in the presence of Shri Sivasubramanian Ramann, Chairperson, PFRDA.

Key Objectives of the MoU

• Capacity Building: Joint outreach and training programmes for regulated/reporting entities, focusing on strengthening Anti‑Money Laundering and Combating Financing of Terrorism (AML/CFT) capabilities.
• International Alignment: Ensuring compliance with global standards and facilitating exchange of information with foreign FIUs under the Egmont Principles of Information Exchange.
• Risk Assessment: Identifying and assessing Money Laundering and Terror Financing (ML/TF) risks and vulnerabilities across financial sub‑sectors.
• Red Flag Indicators: Developing and disseminating indicators for suspicious transactions.
• Compliance Monitoring: Supervising and monitoring reporting entities’ adherence to obligations under the Prevention of Money Laundering Act (PMLA), PML Rules, and PFRDA guidelines.
• Regular Coordination: Designation of nodal officers and quarterly meetings to deliberate on issues of mutual interest.

About FIU‑IND

The Financial Intelligence Unit–India is the central national agency responsible for receiving, processing, analyzing, and disseminating information on suspect financial transactions. It plays a pivotal role in coordinating efforts against money laundering and financing of terrorism.

About PFRDA

The Pension Fund Regulatory and Development Authority, established under the PFRDA Act, 2013, regulates, develops, and supervises India’s pension sector. It oversees the National Pension System (NPS) and Atal Pension Yojana (APY), ensuring orderly growth of the pension ecosystem and safeguarding subscriber interests.