The Financial Intelligence Unit has begun a probe into the transactions of investors and owners of crisis-ridden National Spot Exchange limited (NSEl) after probe agencies investigating the bourse detected alleged discrepancies in financial dealings. The FIU, under the Union Finance Ministry, is the central agency which is tasked to collect, analyse and disseminate reports related to suspicious transactions and doubtful cash remissions or withdrawals to various law enforcement agencies for action at their end.
Days after the Income Tax department conducted surveys on over two dozen investors of the exchange, the FIU, sources said, was alerted and ask to prepare dossiers about movement of cash and funds of all those involved in the transactions. The two reports prepared by the ED and the RBI early this month are understood to have made recommendations for an intense "search" of financial databases and records of the activities of the entities involved in the operations of the bourse over a period of time.