Bank New Rule | Economic criminals will no longer be safe! Government will issue ‘unique code’, two and a half lakh names in the list
File Photo Mumbai: Just like the way prisoners are given ‘badge numbers’, now financial criminals will be identified through a special code. The government is planning to issue a unique code for a person or company accused of financial offences. This identification number will be known as ‘Unique Economic Offender Code’. Each accused will have a special code, and it will be linked to his Aadhaar number or PAN of the company. The Central Financial Intelligence Unit under the Union Ministry of Finance has prepared a database of 2.5 lakh financial criminals. In such a situation, mistakes related to economic matters will be very costly in future. What is the advantage of unique code? The idea of a code for each accused would enable the agency to initiate probe against them. At present, one agency conducts the investigation and files a charge sheet, after which the information is shared with the other for further investigation. Linking of Aadhaar/PAN of companies or individuals will make it easier to link all cases of financial offenses against them. Read this also Get complete information at a glance The code assigned to economic offenders will be named ‘Unique Economic Offender Code’. According to reports, if a person commits an economic offence, this code will be linked to his Aadhaar, while in case of companies it will be linked to PAN. Then whenever the concerned person or company wants to do any work, as soon as his Aadhaar or PAN comes in front, the full details of his economic crimes will come to the fore. Meanwhile, it is believed that this new arrangement will not only reduce the cases of financial crimes, but the work of the investigating agencies in such cases will also become easier. In the current system, another agency has to wait for the first agency to file a charge sheet or share information to take action in a related case. In such cases, the delay in investigation will end with the new system.