INTERGOVERNMENTAL COOPERATION KEY TO CRACKING DOWN ON SMUGGLING MASTERMINDS

At the Global Conference on Enforcement Matters organized by the DRI, Sitharaman acknowledged the enduring presence of smuggled goods like precious metals, narcotics, and natural resources

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Finance Minister Nirmala Sitharaman has stressed the need for intergovernmental cooperation to share “actionable information” to dismantle the masterminds behind smuggling and illicit trade networks. She emphasized that enforcement agencies should prioritize apprehending the key individuals orchestrating illegal trade, as this would serve as a deterrent against such unlawful activities that negatively impact the economy and citizens.

Speaking at the Global Conference on Cooperation in Enforcement Matters organized by the Directorate of Revenue Intelligence (DRI), Sitharaman acknowledged that the nature of smuggled or illegally traded goods has remained consistent over the past several decades, encompassing items like precious metals, narcotics, and resources from forests or marine life.

Sitharaman expressed the importance of collaboration with the World Customs Organization (WCO) and local authorities to uncover the brains behind these illicit operations. She also advocated for the destruction of all confiscated goods, rather than allowing them to re-enter the market, to enhance deterrence against illicit trade.

The minister highlighted the role of technology in combating illegal trade and smuggling, emphasizing that it should be paired with information sharing. She encouraged the sharing of innovative thoughts on empowering authorities through legislation and effective procedures to combat such illicit activities.