IIM B To Equip CBI Officers With Know-How Needed To Fight Financial Crime

IIM Bangalore has launched a Certificate Program in Financial Intelligence for the officers of the Central Bureau of Investigation (CBI) – India’s elite national investigation agency. Directors of CBI and IIM B addressed the first batch of 30 senior officers investigating financial crimes.

The program, delivered by senior faculty members mostly from the Finance and Accounting areas of IIM B, seeks to provide CBI officers investigating financial crimes with knowledge in wide ranging areas of financial management, and financial operations and markets.

For practical insights, guest speakers from audit firms, consulting firms, and organizations such as SEBI, RBI etc. will also be invited to address the program participants. 

The first batch of 30 senior officers was welcomed to the program, which was inaugurated by Anil Kumar Sinha, Director, Central Bureau of Investigation, and Dr. Sushil Vachani, Director, Indian Institute of Management Bangalore.

CBI Director Anil Kumar Sinha and IIMB Director Sushil Vachani at the inauguration of the ‘Program on Financial Intelligence and Analytics for CBI Officers’ at IIM Bangalore

“In our pursuit of excellence in investigation, we should equip ourselves to not only crack cases but to understand the nuances of cases whose implications are far reaching in the financial world. A course on Financial Intelligence, from a premier institution such as IIM Bangalore, will equip our officers with the latest knowledge and new techniques to do the work assigned to them with speed and accuracy. It will also help us enhance the CBI motto of ‘Industry, Impartiality and Integrity’ with another vital element – Knowledge,” said Sinha, at the program inauguration at IIM Bangalore on Monday morning.

Stating that law enforcement agencies in India had engaged with the IIMs in the past in conducting vertical interaction courses and mid-career training programs, he said these were generic management programs while for the first time ever a law enforcement agency and an IIM were partnering for an academia-designed training course for upgrading domain expertise of a law enforcement institution. “A course like Financial Intelligence and Analytics will help in strengthening governance and rule of law in the country. I hope this course becomes a trend-setter for other institutions and I look forward to a long and fruitful association with IIM B,” he said. 

Stating that the track record of the CBI was under increasing stress due to a multiplicity of factors, he said: “Our investigators face the biggest challenge in new age crimes, financial and cybercrimes where technology enables offenders to operate across national jurisdictions at the click of a button. In the field of financial and multi-jurisdictional crimes, investigators and prosecutors must be constantly kept apprised of global trends, swiftly changing technology and ever changing laws. Our officers are sure to benefit from IIM B’s training program that addresses these issues.

“It is a comprehensive program which takes the participants from foundation to advanced level.  It will be delivered through a 21-day, three-phase model with a residential component at IIM Bangalore and contact programs at the CBI Centre. The program has been designed for maximum impact with real-life cases, high visibility and complex cases, and in a range of situations. It will also draw upon professionals from the practitioners’ world,” said Professor MS Narasimhan, Finance and Control Area, IIM Bangalore and program director.

‘’All modules of the program – Basic, Intermediate and Advanced – will be case-based. The pedagogy will cover theoretical and technical inputs, and practical applications,” he added.

 “In India, Prime Minister Modi is committed to developing a stronger nation but this will require a firm hand. To strengthen our institutions, better labor laws, real freedom of speech, enforcement of contracts and rooting out corruption are all important. Obviously, the CBI has a major role to play in providing a vibrant institutional eco system for growth. We hope to deliver a program that will empower you to deliver on such a promise”, said Dr. Sushil Vachani, Director, IIM Bangalore. 

Dr. Vachani also highlighted IIMB’s recent initiatives such as the launch of MOOCs (Massively Open Online Courses), which take high quality education to everyone. “We have announced 4 courses and we already have nearly 40,000 registrations, from 180 countries. Just a few years ago, it would have been unimaginable that we would present our courses not just to bright young people in India or experienced officers like you but to countries all across the world. In future we want to use technology for education for social impact. What we teach here is relevant for experienced officers like you and to young people who want to work in the globalized world and we want to make sure we also make a difference to the ‘kirana’-shop owner, the handloom weaver or the foundry worker in a village in this country,” he added.