DRI to discuss trade-based money laundering with global peers on Friday

Officials from the Directorate of Revenue Intelligence (DRI) will on Friday discuss trade-based money laundering with global representatives, including from the Australian Border Force and customs administration of the Netherlands, the finance ministry said.

Officials from the Directorate of Revenue Intelligence (DRI) will on Friday discuss trade-based money laundering with global representatives, including from the Australian Border Force and customs administration of the Netherlands, the finance ministry said. DRI would be celebrating virtually its 63rd Founding Day on Friday (December 4) in the presence of Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Singh Thakur. "As part of this year's Founding Day celebrations, a panel discussion on Trade Based Money Laundering is also been organised through video conferencing with the representatives from Australian Border Force, HM Revenue and Customs (UK tax authority), Customs Administration of the Netherlands and INTERPOL as panelists," the ministry said. In 2019-20, DRI detected 412 cases of smuggling resulting in seizure of contraband worth Rs 1,949 crore. Through risk assessment techniques and data analytics, DRI was able to unearth 761 complex cases of customs involving duty evasion of Rs 2,183 crore, the ministry added.