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Thread: GOVERNMENT (SFIO) to outsource jobs partly to private investigators

  1. #1
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    GOVERNMENT (SFIO) to outsource jobs partly to private investigators

    NEW DELHI: Ministry of Corporate Affairs has asked corporate fraud investigating agency SFIO to outsource part of its work to private sleuths to overcome the problem of staff shortage that was causing delay in completing probes timely.

    The Ministry, in an internal note to the Serious Fraud Investigating Office (SFIO), has directed the body to hire private detective agencies to share the work load for significant cases.

    "Although investigation work per se will not be handed over to private detective agencies, the SFIO can hire them for purposes like tracking missing directors, vanishing companies, etc," a senior official told PTI.

    Set up in 2003, the SFIO, an investigating body that is yet to get statutory and legal powers, came into the limelight for its role in probing the Rs 14,000-crore Satyam fraud case.

    Although the SFIO has framed charges against Satyam in a Hyderabad court, a major part of the investigation, which involves tracking funds siphoned from the company, is still not complete.

    The agency has also been repeatedly seeking extension for submitting investigation reports. The body is normally given six months to complete probes after which the Ministry takes a call and directs the agency to file a case with the courts.

    According to another source, the SFIO has a significant staff shortage and absence of a permanent cadre is also a reason for the cases being dragged.

    "The SFIO does need more staff. More so, after it gets legislative existence. Continuosly seeking extension for completing probes, cannot be a solution," the official said.

    As per sources, the SFIO at present has one director and about 40 other senior functionaries including assistant, additional and joint directors specialising in diverse fields like customs and central excise, income tax, company law, banking, capital market and financial transactions.

    Also, about 15 cases, including Subhiksha, are currently pending with the SFIO.

    The body was formed with the recommendations of the Vepa Kamesam expert Committee which had suggested the government on statutory administrative and organisational changes for making SFIO more effective in containing corporate frauds.

    http://articles.economictimes.indiat...yam-fraud-case

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    Re: GOVERNMENT (SFIO) to outsource jobs partly to private investigators

    Yes, and the US Government is using private investigators in the US to help with federal background checks.

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    http://www.privateinvestigator.cc/index.php?cPath=67

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