CBI director calls for global cooperation to fight graft

Cooperation between countries will speed up prosecution

 Days after the CBI gave an estimated figure of nearly Rs 24.5 Lakh crore of illegal money stashed abroad, the agency asserted that there is need for cooperation with international law enforcement agencies to trace and recover illegal wealth deposited in foreign tax havens.

“In today's globalised context, effective international cooperation in essential for fighting corruption that transcends international boundaries,” CBI Director A P Singh said.

The head of country’s premiere investigation agency further stressed the need for international agencies to engage with each other at all levels to effectively deal with criminals indulging in corrupt practices across borders.

The CBI Director believed that cooperation between countries will also speed-up prosecution of criminals and confiscation of black money.

“Multi-jurisdiction cross-border aspects of an investigation into corruption and international asset recovery involves numerous processes like tracing, freezing, confiscation and repatriation of proceeds stored in foreign jurisdiction,” he said while speaking at the conclusion of the first Interpol global programme on anti- corruption and asset recovery.

The conference was attended by 38 delegates of 14 nations including China, the Philippines, Thailand, Singapore, Nepal, Sri Lanka and Indonesia.

Speaking on the occasion, Secretary in the Department of Personnel and Training P K Misra emphasised the need to seize black money and properties made through corrupt means.

"Fight against corruption is incomplete unless we recover the illegal assets and wealth amassed by corrupt persons. The corrupt should be not only brought to book but their illegally amassed wealth should also be recovered and attached," Misra said.