US offers assistance to India in dealing with money laundering

The US today offered assistance to India to deal with money laundering and fake currency menace, besides cooperation in issues related to cross-border terrorism.

The visiting Secretary of the US Department of Homeland Security (DHS) Janet Napolitano called on Finance Minister Pranab Mukherjee here and the two leaders explored the areas of bilateral cooperation.

"Napolitano sought cooperation and offered assistance in money laundering, counterfeiting of currency, cross-border terrorism, cyber security, secured cargo...," a Finance Ministry statement said.

In the meeting, Mukherjee stressed on the need for cooperation in investigations relating to money laundering, drug-money flow, stashing of black money abroad and transfer-pricing mechanism.

The two sides also decided to establish a new chapter in US-India cooperation in various areas relating to Finance Ministry with particular emphasis on Customs issues.

"[The two also] noted the excellent cooperation between Indian Customs and US Customs and agreed to explore new areas of mutual interest to safeguard the security of the global supply chain," the release said.

Black money has become a big political issue in the country, with the opposition accusing the government of not doing enough to bring back the illegal money stashed abroad.

Source: Press Trust of India