Money laundering investigators in India, always outnumbered by their criminal counterparts, will soon cease to be outgunned. “Special Agents, and Agents will be able to carry firearms after the Directorate of Criminal Investigation (DCI) is operationalised in the I-T (Income Tax) Department”. Says a top official in the department who spoke anonymously in advance of the mobilization.
A move to arm agents comes as a wave of massive money laundering cases hits the Indian justice system, typified by the investigation of billionaire Hasan Ali Khan. Coupled with the sprawling and sometimes Byzantine nature of Indian high finance, the move is not altogether incongruent.
The widespread intimidation by criminal organization leveled against AML investigators will be lightened, the Directorate of Income Tax feels, by sending out its accountants with iron on their hip.
The same official noted that the armed investigators would be deployed against “persons and transactions suspected to be involved in criminal activities having cross-border, inter-state or international ramifications, that pose a threat to national security and are punishable under the direct tax laws.”
Look for the mobilization to occur in early 2012. Williams McGuire will study the results carefully and preemptively buy cowboy holsters incase the program proves a success.
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By James MacKenzie
Money laundering investigators in India, always outnumbered by their criminal counterparts, will soon cease to be outgunned. “Special Agents, and Agents will be able to carry firearms after the Directorate of Criminal Investigation (DCI) is operationalised in the I-T (Income Tax) Department”. Says a top official in the department who spoke anonymously in advance of the mobilization.
A move to arm agents comes as a wave of massive money laundering cases hits the Indian justice system, typified by the investigation of billionaire Hasan Ali Khan. Coupled with the sprawling and sometimes Byzantine nature of Indian high finance, the move is not altogether incongruent.
The widespread intimidation by criminal organization leveled against AML investigators will be lightened, the Directorate of Income Tax feels, by sending out its accountants with iron on their hip.
The same official noted that the armed investigators would be deployed against “persons and transactions suspected to be involved in criminal activities having cross-border, inter-state or international ramifications, that pose a threat to national security and are punishable under the direct tax laws.”
Look for the mobilization to occur in early 2012. Williams McGuire will study the results carefully and preemptively buy cowboy holsters incase the program proves a success.