Zee Media Bureau
New Delhi: Finance Minister Arun Jaitley on Friday said that the country needs a law to prevent money laundering, adding that the systems are broadly in place.
Delivering his keynote address during the third edition of Enforcement Directorate (ED) Day celebrations in the national capital, Jaitley said that the government aims at making all international transactions transparent by 2017.
Expressing concerns over the volatility of the Indian currency, the minister said that the rupee has kept pace with the dollar in the last few months. “Indias forex reserves and laws to avert flight of curency have supported the rupee,” Jaitley added.
New law on undisclosed income and assets abroad will be taken up in Parliament next week, he further informed.
The ED annual event is being attended by Revenue Secretary Shaktikanta Das and Chairman of the Egmont Group of Financial Intelligence Units and Director of South Africa's Financial Intelligence Centre Murray Michell.
The ED is country's central agency to investigate money laundering and hawala crimes.
