Finance Ministry Appoints Director of Financial Intelligence Unit as Nodal Officer u/s 13 of PMLA

The Finance Ministry has appointed the Director of the Financial Intelligence Unit as the nodal officer under Section 13 of the Prevention of Money Laundering Act (PMLA). The appointment is aimed at improving the implementation of anti-money laundering (AML) laws. The nodal officer will oversee the reporting of suspicious financial transactions and ensure better coordination between government agencies involved in tackling money laundering. This move strengthens the country’s efforts to combat financial crimes and aligns with global standards for AML compliance. It is seen as a crucial step in enhancing financial transparency and security.