'SFIO should have foolproof fraud detection mechanism'

The Serious Fraud Investigation Office (SFIO) should have a "foolproof fraud detection mechanism" and fill up the vacancies with adequate permanent cadre, a Parliamentary panel said today.
As many as 71 of the 133 sanctioned posts are vacant at the white collar crime probe agency, which comes under the corporate affairs ministry.
The Standing Committee on Finance, headed by Congress leader and former corporate affairs minister M Veerappa Moily, said it is of the view that "the process of creating a permanent cadre under SFIO has been delayed for too long considering that SFIO was set up way back in 2003".

In its report tabled in the Parliament today, the panel said recruitment rules of 28 categories of posts in the SFIO have been amended to establish adequate permanency in the cadre.
The committee reiterated that "SFIO should fill its vacancies with adequate permanent cadre and strengthen both its investigative and prosecution arms by developing a foolproof fraud detection mechanism".
The remarks are part of the report on action taken by the ministry on the panel's recommendations made in the report on 'Demands for Grants (2017-18)'.
In its submission to the panel, the ministry said over a period of time, the SFIO would have its own cadre and all senior level posts would be filled up through own cadre on the basis of promotion rather than taking people on deputation.