Panel wants Serious Frauds Office to curb corruption

NEW DELHI: The Moily-led Administrative Reforms Commission has focussed on misuse of office. In case the existing laws are not strong enough a deterrent, ARC has asked for a new legislation Corrupt Public Servants (forfeiture of property) Bill so that the State confiscates ill-gotten wealth.

ARC has also asked for immediate implementation of the Benami Transactions (prohibition) Act.

Apart from recommending a legislation to protect whistleblowers, ARC has suggested a new law to tackle serious economic offences involving Rs 10 crore and more, and setting of a Serious Frauds Office in cabinet secretariat with power to investigate and prosecute in order to discipline financial sector, capital, futures and commodity markets and IT sector.

ARC also suggested a law on the lines of American False Claim Act, so that a citizen can seek legal relief against fraudulent claims against the government.