New Delhi: The Centre on Saturday empowered the Indian Cybercrime Coordination Centre (14C), allowing it to receive and share information with other agencies to tackle money laundering linked to cybercrime.
In a gazette notification, updated late evening, the Centre added it to the list of entities under Section 66 of the Prevention of Money-Laundering Act (PMLA).
The agency will now have access to crucial data from other agencies to strengthen enforcement actions against cybercrime-related financial transactions.
The Indian Cybercrime Coordination Centre (ICCC), officially known as I4C, is a nodal agency established by the Ministry of Home Affairs (MHA) to address cybercrime in a coordinated and comprehensive manner.
This is a significant move to combat online financial crimes and to deal with increasing cyber frauds in the banking system and online gaming and betting companies frauds.
"This is to support the Enforcement Directorate in its fight against money laundering which is routed through dark web, betting sites and other online cyber frauds but the role will be more on coordination and support, with no direct powers to prosecute under the PMLA," a senior official told ET.
The official added that this is part of the government's effort to tackle growing concerns over transnational cybercrimes.
In a gazette notification, updated late evening, the Centre added it to the list of entities under Section 66 of the Prevention of Money-Laundering Act (PMLA).
The agency will now have access to crucial data from other agencies to strengthen enforcement actions against cybercrime-related financial transactions.
The Indian Cybercrime Coordination Centre (ICCC), officially known as I4C, is a nodal agency established by the Ministry of Home Affairs (MHA) to address cybercrime in a coordinated and comprehensive manner.
This is a significant move to combat online financial crimes and to deal with increasing cyber frauds in the banking system and online gaming and betting companies frauds.
"This is to support the Enforcement Directorate in its fight against money laundering which is routed through dark web, betting sites and other online cyber frauds but the role will be more on coordination and support, with no direct powers to prosecute under the PMLA," a senior official told ET.
The official added that this is part of the government's effort to tackle growing concerns over transnational cybercrimes.
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