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What is the Central Economic Intelligence Bureau (CEIB)? What are its Responsibilities?
December 15, 2017
The Central Economic Intelligence Bureau (CEIB) is an intelligence agency that facilitates and monitors the coordination and interaction of a variety of financials sectors for economic offenses.
The nodal agency also serves as a clearing house for the entire economic intelligence and provides a communication link to the other enforcement agencies like CBI, IB, RAW, etc.
About CEIB
CEIB was set-up in July 1985 and answers to the Department of Revenue, Ministry of Finance.
A Special Secretary cum Director Generate heads the agency and has three offers of Joint Secretary level to assist him in his role. Out of these three officers, one is appointed as the Joint Secretary, the second one as the Director General (Economic Intelligence Wing), and the third one as the Director General (Administration and Coordination).
The CEIB works closely with the Income Tax Department to fight economic and financial offenses including black money, tax evasion, money laundering, frauds, etc. It’s is also a part of the Economic Intelligence Council (EIC).
Governed by the Finance Ministry, the EIC plays a pivotal role in establishing a communication channel between various government agencies that monitor financial offenses. It’s also an apex body for coordination establishment between other agencies like IB and RBI.
Roles of CEIB
The following are the main roles and responsibilities of the CEIB:
- To serve as the chief coordinator for the other intelligence agencies that are working towards tackling financial frauds and come under the Finance Ministry.
- To work with the intelligence agencies in other countries that are responsible for drugs and economic law enforcement.
- To ensure and check the correct implementation of the Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA).
- To act as an intermediary for CBI, DRI, CBEC, and CBDT, etc.
