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Central Economic Intelligence Bureau
The body of Central Economic Intelligence Bureau or CEIB is an agency related to Indian Intelligence, working for the monitoring and gathering of information in the financial and economic sectors, which are related to warfare and economic offences.
The CEIB was established in 1985, which became the central agency, working towards economic intelligence, where it was mandated to bring effectiveness into the coordination and interaction among the agencies which are concerned with the field of economic offences. Also, it works towards providing clearance to various intelligence works in economics and gives a platform where various agencies can exchange information within enforcement agencies, intelligence wings and department of revenue and bodies like CBI, RAW, IB, etc.
The head of the Bureau is Special Secretary also known as Director General, who is having three more Joint Secretary category officers, one among these being known as JS of COFEPOSA and two others are known by designations of Dy. Director General of Administration and Coordination and ECOINT Dy. Director General.
Three Wings of the CEIB
- Administration and Coordination Wing (AC) -: This is the section, which is considered to be the Secretariat headed by Finance Minister and is the Economic Intelligence Council. The work is related to the EIC and the monitoring of the Regional Economic Intelligence Councils or REICs, which are 21 in number, all around the country. This section is also working for the Bureau’s general administration.
- Economic Intelligence Wing (ECOINT) -: This section is responsible for coordination at the central department regarding the information exchange and work related to intelligence and offences related to economics, smuggling, drug trafficking, counterfeit currency, financial frauds, hawala, foreign exchange violations, tax evasion, money laundering, etc.
- COFEPOSA Wing -: This section is responsible for work which involves COFEPOSA Act. Under this Act, which was promulgated in 1974, racketeers of foreign exchange and smugglers are detained for a year or so, so that they cannot indulge in any activities as in the past. After the proposals are received from the DRI, customs or ED, the members of the screening Committee consider the case and recommend the detention. This order is issued by the COFEPOSA JS, which is then forwarded to the Advisory Board, which comprises of three judges of the High Court, who are sitting and is finally approved by the existing Finance Minister. Those who are detained can make their representations which are dealt on behalf of the government and delegated to the CEIB.
Formation
CIEB came into force in 1985, in the month of July, under the responsibility of the Ministry of Finance. This department concurs with the IT department, for monitoring, intelligence in economic field, offences in the economic sector like money laundering, smuggling and fraud.
Organisation
The Director General is the Head of CEIB, who is also ranked as Special Secretary of the Indian Government. In the Economic Intelligence Council, the CEIB is the primary body directly under the Finance ministry. As per the sanctioned members, the body comprises of five assistant Directors General, two Deputy Directors General, COFEPOSA Joint Secretary, other joint secretaries, four under secretaries, senior technical officers numbering eight and various other intelligence officers, as well as some secretarial staff, making the bureau having a staff of 133.
Functions
- Collection of information on different illegal activities on the economic front, monitoring of sensitive information and giving stress on sectors of economy in india, which are susceptible and in the financial side.
- To make sure that there is proper implementation of Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, COFEPOSA, 1971.
- It also looks after the methods enforced to act against such crimes and organisations
- In the Ministry of Finance, this is the primary body and coordinator for fighting of offences in the economic front.
- It also liaisons with CBI, CBEC, DRI and other enforcement and monitoring agencies