Representational Image | Getty Images
New Delhi: To tackle the rising incidence of economic fraud cases in the country, the government is set to roll out a novel measure to address the issue. A unique identification code will be implemented for individuals or companies implicated in such cases. Known as the 'Unique Economic Offender Code,' this identification number will be linked to an individual's Aadhaar, or for companies, their PAN number.
Using these alpha-numeric codes, the officials could gather all details of economic frauds committed by individuals or companies. Central Economic Intelligence Bureau under the finance ministry was the first to moot the idea to create a database and assign an ID to all economic offenders. The Bureau has also prepared a database of about 2.5 lakh economic offenders.
The system-generated code will be assigned to offenders once the police and other probing agencies in the country feed data into the National Economic Offence Records (NEOR), a repository of information on financial crime and criminals. The project is estimated to cost around Rs 40 crore.
IN CASE YOU MISSED IT
.jpg?$p=22cef97&f=1x1&w=100&q=0.8)
.jpg?$p=42a65f1&f=1x1&w=100&q=0.8)
.jpg?$p=ed2f84a&f=1x1&w=100&q=0.8)
.jpg?$p=42a65f1&q=0.8&f=16x11&w=104)
.jpg?$p=c3b4e87&q=0.8&f=16x11&w=104)
.jpg?$p=22cef97&q=0.8&f=16x11&w=104)
.jpg?$p=ed2f84a&q=0.8&f=16x11&w=104)
