Central Vigilance Commission has developed Information Sharing and Analysis against Corruption (ISAAC) system, which opens a window on global community to check illegal proceedings of black money. The purpose of ISAAC is to enable international cooperation in enforcement of anti-corruption measures and prevention of corruption and development of new approaches to tackle graft.
It will also help in capacity building of anti-corruption authorities and members can share best practices being followed by them to check corruption. This is a global online mechanism and 219 countries across the world are affiliated to it. This means that another measure has been taken by the global community of containing corruption and graft including black money transactions. What is significant is that the global community will be able to share information connected with anti-corruption measures and activities and coordinate them in a manner that tracing cases of corruption becomes easier.
Corruption and illegal money transactions across the globe have become an established and entrenched phenomenon. India is not the only country that is faced with the malaise. We are additionally made victim of induction of fake currency printed in a neighbouring country and smuggled into India clandestinely by underground terrorist activists. Their aim is to strike a blow to the Indian economy. We hope that with new electronic devices put in place by CVC it may be possible to check this conspiracy and deal severely with the culprits. Taking care from this initiative, the State Vigilance Commission can also develop a similar online system to further strengthen.
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