Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
Related Articles
India on Friday presented a nine-point agenda before G20 countries, calling for “strong and active cooperation” to deal with fugitive economic offenders comprehensively. Prime Minister Narendra Modi presented the agenda in the second session of the G20 Summit on international trade, international financial and tax systems here. “Cooperation in legal processes, such as effective freezing of the proceeds of crime, early return of the offenders, and efficient repatriation of the proceeds of crime should be enhanced and streamlined,” the agenda read. India called for joint efforts by G20 countries to form a mechanism that denied entry and safe havens to fugitive economic offenders. UN principles “Principles of United Nations Convention Against Corruption (UNCAC), United Nations Convention Against Transnational Organised Crime (UNOTC), especially related to ‘International Cooperation’ should be fully and effectively implemented,” it said. India suggested that the inter-governmental Financial Action Task Force (FATF) be called upon to establish international cooperation that led to timely and comprehensive exchange of information between the authorities and financial intelligence units. “FATF should be tasked with formulating a standard definition of fugitive economic offenders. FATF should also develop a set of commonly agreed and standardised procedures related to identification, extradition and judicial proceedings for dealing with fugitive economic offenders,” it said.
