India to sign MOUs on money laundering: Cabinet

New Delhi, Mar 29 (UNI) In a bid to check money laundering, India's Financial Intelligence Unit would soon sign MoUs with its counterparts in other countries for exchange of information.

Under the proposed MoUs, cleared by the Cabinet today, information and documents obtained from other FIUs would not be disseminated to any third party, nor be used for administrative, prosecutorial or judicial purposes without prior consent of the disclosing authority.

The information acquired would be treated as confidential and subject to official secrecy, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters.

The authorities would not be under any obligation to give assistance if judicial proceedings have already been initiated concerning the same facts to which the request is related.

Such MoUs may be amended or revoked at any time.

UNI