The Centre on Monday set up a 19-member Inter-Ministerial Coordination Committee for better cooperation among government departments to curb money laundering. The committee will be chaired by the revenue secretary.

Four other government secretaries – those of the departments of financial services, economic affairs, corporate affairs and external affairs – will be members of the group. The heads of the Intelligence Bureau, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Central Board of Indirect Taxes and Customs and Central Board of Direct Taxes will also be part of the panel.

Other members include a deputy governor of the Reserve Bank of India, a special secretary of the Home Ministry, and a member of the Department of Posts. The Enforcement Directorate, National Investigation Agency, Narcotics Control Bureau, Financial Intelligence Unit, Serious Fraud Investigation Office and Central Economic Intelligence Bureau will also have representation in the committee.

The committee will be tasked with operational cooperation between the government, law enforcement agencies, the Financial Intelligence Unit and other regulators. It will also ensure policy cooperation and consultations across authorities, and will develop policies to counter money laundering and terror funding.

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