Sharing case studies, observations and views, experts attending a police workshop here said that financial fraud and cyber crimes can be tackled by better inter-disciplinary coordination among agencies and through mass awareness. The two-day workshop of police officials and investigative agencies on curbing financial fraud in the country laid emphasis on better coordination among all the investigative agencies.
On the second day of the workshop, General Manager and Chief Vigilance officer of Oriental Insurance, Rakesh Kumar threw light on general insurance fraud as to how insurance companies other than governmental insurance firms lure and cheat their common clients. He appealed to the cops and the masses to be sharp and aware of the terms and conditions of insurance companies while getting anything insured.
He gave several tips to cops as to how they can help people to avoid fraud by insurance companies, a release said. The session on money laundering was addressed by Special Director of Enforcement Directorate, New Delhi, Yogesh Gupta whereas session on shell companies was chaired by Vivek Priyadarshi, SP, CBI, Bhopal. Priyadarshi disclosed the fact such companies are spreading the world over and their business is around USD 1 trillion.
In India, Calcutta is the major centre of “shell companies”, the release quoting him as saying. He said that in Panama Papers leak case, 2 lakh shell companies were involved. These companies have dummy lawyers, accountants and dummy directors on their boards. They have no phone numbers or addresses, he added.
The workshop was jointly organised by Sardar Patel Police University of Security, Criminal Justice, Jodhpur and Rajasthan Police.