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Wanted CAs in police force
December, 06th 2006

After crippling the underworld, the city police wants to hire chartered accountants and bankers to focus on economic offences. To strengthen the city's Economic Offences Wing (EOW), police commissioner A N Roy has sent a proposal to the state government to create posts for chartered accountants, tax consultants, account experts and personnel from banking and corporate sector. "These professionals will be hired on a contract basis and they will be available for advice," said the police chief.

Early this year, the government had sanctioned the posts of legal advisor to the Mumbai police and an accountant. "We have sent our proposal to the government to create posts for chartered accountants, tax experts, accountants etc. They will assist us during investigations in economic offence cases," added Roy.

Over 100 cases are registered with the EOW every year relating to crimes in the sectors of banking, shares, housing etc. Normally, an economic offence case is transferred from a police station to the EOW once the money involved in the crime exceeds Rs 25 lakh. Though in many cases, the chargesheet is filed within the stipulated time, a number of economic offence cases are pending in court.

Former chief justice of Karnataka and Kerala high court V S Malimath, who headed a committee on reform of criminal justice system, had also recommended that state governments should set up committees, comprising experts from the fields of banking, finance and tax etc, to deal with economic offences. While attending the national seminar on economic offences in Mumbai last month, he had said help from chartered accountants, tax experts etc will ensure conviction in more cases.

Sources from the EOW said in such cases the accused are education and techno-savvy. Referring a case related to banking crime, an officer said: "An accused had transferred Rs 24 lakh in his account through net banking and it was difficult to crack the case since the money was withdrawn two to three days in advance to the date written on the cheque. The police are still confused whether the cheque leaf was bogus or the dates were forged. In such cases, if a banking experts give suggestions it will help us," said the officer.

In most of the cases related to banking, the accused submit forged documents to the banks and take home loans, personal loans etc. "In several cases, the address given on the documents are wrong, accused's identity is false, signature and other papers are forged so in such circumstances it becomes difficult to nab these accused. If there are experts who have thorough knowledge of banking, shares, loan facilities etc., it will become more easier to detect and investigate these cases more professionally," sources said.

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