DEHRADUN: In a bid to curb rising financial crimes across the state more efficiently, the State Special Task Force (STF) has recently formed a specialised Financial Fraud Unit within the state. The unit will solely focus on preventing banking and digital frauds by improving coordination between law enforcement agencies and financial institutions.
Chairing a meeting of the state level coordination committee on financial fraud prevention in the city recently to review existing mechanisms to fight the increasing complexity of economic offences, state Finance Secretary Dilip Javalkar said the pattern of financial crime has changed rapidly in recent years, making it necessary to adopt focused and technologically equipped approaches.
Speaking after the meeting, Javalkar said, “We have established a dedicated Financial Fraud Unit within the STF. This specialised team will work in close coordination with cyber experts, banks and financial institutions to detect and prevent fraudulent activities. Economic crimes are evolving and the state must stay ahead of these challenges.”
He added that the new unit will use advanced monitoring tools to track suspicious financial transactions and ensure early intervention. “Our aim is not only to investigate cases but also to prevent fraud before it takes place. Quick response and coordinated action are essential in digital financial crime,” he said.
Officials who attended the meeting said the unit will bring together specialists from cyber crime, forensic auditing and banking systems. The decision was taken after reviewing several recent cases where victims lost money due to sophisticated digital frauds involving mobile applications, phishing and unauthorised electronic transfers.
A senior officer of the STF said, “Financial crimes are increasingly adopting digital formats. Criminals are exploiting gaps between regulation and technology. With this dedicated unit, we will be better placed to reduce such incidents and safeguard the public.”
During the meeting, the committee also reviewed regulatory compliance of companies operating in the state. Officials confirmed that 281 firms are registered with appropriate regulators and their details will be made accessible to the public through government websites to help citizens verify authenticity before making investments.
The committee further noted that the police cyber unit will work jointly with bank representatives to ensure fast recovery of defrauded money and immediate blocking of suspicious accounts. According to officials, similar models adopted in other states have reduced fraudulent transfers in the banking system.
Senior officers present in the meeting included Joint Home Secretary Gajendra Singh, RBI State Manager Neeta, Deputy Registrar Cooperative Ira Upreti, Superintendent of Police Crime Research Department Neeraj Semwal and Assistant Superintendent of Police STF Kush Mishra. Representatives of several banks and financial advisory units were also part of the discussion.
The committee also reviewed the progress in an ongoing case involving the Loni Urban Multi State Credit and Thrift Cooperative Society, where fourteen FIRs have been registered. Officials said the investigation was underway with support from central agencies.
Javalkar stressed the importance of public participation in reducing financial crime. He said citizens should promptly report suspicious transactions and remain cautious while responding to digital messages or online investment schemes. “Financial safety is a shared responsibility. The government will continue to strengthen its mechanisms, but awareness among citizens is equally important,” he said.
Officials confirmed that the Financial Fraud Unit will commence operations immediately. Training sessions are being organised to equip STF personnel with updated fraud detection tools and protocols.
With the creation of this specialised unit, the government aims to enhance its capability to respond to economic offences, strengthen coordination with financial institutions and build public confidence that financial crimes will be dealt with swiftly and effectively.
Dheeraj reports on governance, public services, jobs, and regional developments across Uttarakhand. He specialises in recruitment news, public-sector updates, and civic issues that impact everyday citizens. His reporting brings accuracy, context, and a grassroots perspective to local journalism.
