PIB summary 30 Nov

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Oracle IAS, the best coaching institute for UPSC/IAS/PCS preparation in Dehradun (Uttarakhand), brings to you daily PIB summary.

KP activities to ensure that almost 99% of the diamond trade in the world is conflict free.

• India is committed to maintain KP as an efficient and effective process in order to ensure the conflict diamond free status.

• India is at the forefront in addressing the issue of differentiation between Natural Diamonds and Lab Grown Diamonds and ensure responsible business in this area.

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Nine Point Agenda Suggested By India to G-20 for Action Against Fugitive Economic Offences And Asset Recovery

• Strong and active cooperation across G-20 countries to deal comprehensively and efficiently with the menace fugitive economic offenders.

• Cooperation in the legal processes such as effective freezing of the proceeds of crime; early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined.

• Joint effort by G-20 countries to form a mechanism that denies entry and safe havens to all fugitive economic offenders.

• Principles of United Nations Convention Against Corruption (UNCAC), United Nations Convention Against Transnational Organized Crime (UNOTC), especially related to “International Cooperation” should be fully and effectively implemented.

• FATF should be called upon to assign priority and focus to establishing international co-operation that leads to timely and comprehensive exchange of information between the competent authorities and FIUs.

• FATF should be tasked to formulate a standard definition of fugitive economic offenders.

• FATF should also develop a set of commonly agreed and standardized procedures related to identification, extradition and judicial proceedings for dealing with fugitive economic offenders to provide guidance and assistance to G-20 countries, subject to their domestic law.

• Common platform should be set up for sharing experiences and best practices including successful cases of extradition, gaps in existing systems of extradition and legal
• assistance, etc.

• G-20 Forum should consider initiating work on locating properties of economic offenders who have a tax debt in the country of their residence for its recovery.

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