The Campus Immersion Week of the Masters in Financial and Economic Crimes (MFEC) Programme commenced at Rashtriya Raksha University (RRU). The inauguration ceremony began with the felicitation of distinguished guests by Prof. (Dr.) Kalpesh H. Wandra, Pro Vice-Chancellor, RRU. The esteemed dignitaries included Mr. Karnal Singh, Former Director, Enforcement Directorate and Director General, Indian Institute of Corporate Affairs (IICA), and Mr. Gyaneshwar Kumar Singh.

Delivering the inaugural address, Mr. Karnal Singh congratulated the participants for being part of the first cohort of this pioneering programme, a course unparalleled anywhere in the country. He emphasized the national importance of this cohort in addressing emerging financial and economic crime challenges. Mr. Singh highlighted evolving forms of fraud such as GST frauds and insolvency-related frauds, and further elaborated on the misuse of investments in fraudulent activities, stating that “investments should never be against national security.”

He also drew attention to the importance of non-financial reporting as a critical area of study for the participants. Towards the conclusion of his address, Mr. Singh underscored how this programme can significantly contribute to the vision of Viksit Bharat @2047, with possible outcomes such as the development of a search engine for inter-bank transactions and the establishment of a Centre for Cyber Frauds.

Mr. Gyaneshwar Kumar Singh, Director General, IICA, spoke about the relevance of the MFEC programme for anti-money laundering (AML) frameworks. He observed how the nature of economic crimes has transformed from relatively simple hawala transactions into multi-layered and structured frauds, which pose increasing challenges even for specialized agencies such as the Serious Fraud Investigation Office (SFIO). He elaborated on the implications of non-disclosure in cyberspace and the urgent need for advanced strategies to address cyber-enabled economic crimes. Further, he introduced the innovative concept of KYC that is Know Your Company, emphasizing its utility in the evolving corporate and regulatory landscape.

In his concluding remarks, Prof. (Dr.) Kalpesh H. Wandra spoke about the vision of the Hon’ble Prime Minister for strengthening the pillars of economic integrity and financial resilience, and how Prof. (Dr.) Bimal N. Patel, Vice-Chancellor, RRU, is realizing this vision through the MFEC programme. He also outlined the University’s ongoing and future initiatives in financial and economic crime prevention, including outreach to FATF, close engagement with the Ministry of Finance and many others. He extended his best wishes to all participants for a meaningful and fruitful Campus Immersion Week.

The Masters in Financial and Economic Crimes (MFEC) is a one-year hybrid programme designed for professionals to build expertise in financial and economic crime prevention. As the first of its kind in India, it combines theoretical foundations with practical training to address emerging challenges in this domain. Launched by Rashtriya Raksha University, Ministry of Home Affairs, in collaboration with the Indian Institute of Corporate Affairs, Ministry of Corporate Affairs, the programme aims to strengthen the nation’s financial security and contribute to the vision of a Shashakt Bharat.

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