Gandhinagar, Oct 31 — With financial crimes increasingly involving digital assets, cross-border platforms and artificial intelligence, Rashtriya Raksha University (RRU) and the Indian Institute of Corporate Affairs (IICA) have launched the second cohort of their Master’s in Financial and Economic Security (MFES), aimed at building specialised expertise in tackling emerging threats to India's financial system.
The programme, which began on October 31, brings together working professionals from regulatory bodies, law-enforcement agencies, police organisations, financial institutions, the legal profession, entrepreneurship and other sectors.
It is offered in a hybrid format to allow participants to pursue advanced studies alongside their professional responsibilities. RRU, an Institution of "National Importance" under the Union Ministry of Home Affairs, is conducting the programme in collaboration with IICA.
The second cohort builds on the experience of the inaugural batch and seeks to develop professionals with the knowledge and practical skills to protect India's financial integrity, economic security and sovereignty.
The programme comes against the backdrop of growing challenges posed by money laundering, terrorist financing, sanctions evasion, illicit financial flows, financial fraud and the misuse of corporate structures.
These activities can weaken institutions, distort markets and undermine national interests, making coordination between regulators, enforcement agencies, financial institutions, industry and academia increasingly important.
Technological developments have added another dimension to financial security concerns. Digital payments, virtual digital assets, decentralised finance and cross-border platforms can be exploited to conceal proceeds of crime and move illicit funds.
Artificial intelligence has also created new risks, including deepfake-enabled scams, sophisticated impersonation, automated cyberattacks and manipulation of financial information.
At the same time, it offers opportunities for improved risk detection and investigation. Addressing the inaugural ceremony, RRU Pro Vice-Chancellor Prof. (Dr.) Kalpesh Wankhade said: "Financial security is a key pillar of a strong and self-reliant India."
He stressed the need to build a specialised professional cadre with a sound understanding of the practical aspects of financial and economic security and to strengthen cooperation among institutions working in the field.
Sunil Kavishwar, Director of RRU's School of Criminal Law and Military Law, highlighted the challenges arising from rapid technological advancements and their implications for financial crime, supervision and enforcement.
He underlined the need for professionals to remain equipped to understand and respond to technology-enabled threats.
Prof. (Dr.) Naveen Sirohi, Head of the School of Finance and Management and Director of the Forum of Indian Regulators (FOIR) Centre at IICA, said specialised capacity-building programmes such as MFES were important for developing a new cadre of economic security professionals.
"The vision of 'Viksit Bharat' required not only economic growth but also protection against emerging threats such as illicit fund flows, supply-chain disruptions, technology-driven risks and geopolitical tensions," he said.
The curriculum follows an applied, practice-oriented approach, combining academic instruction with case studies, expert interactions and campus immersion activities.
Participants will have opportunities to engage with regulators, investigative and enforcement agencies, financial-sector bodies and other institutions involved in India's financial and economic architecture.
It also covers international standards, cross-border cooperation, comparative regulatory approaches and developments in anti-money laundering and counter-terrorist financing.
Sessions on artificial intelligence and emerging financial technologies are intended to help participants assess evolving risks and understand the responsible use of technology in financial supervision, compliance and enforcement.
The programme is also aligned with the national vision of "Viksit Bharat @2047", with the institutions emphasising the role of financial integrity in protecting public resources, maintaining investor confidence, supporting inclusive growth and strengthening institutions.
The diverse professional backgrounds of the participants are expected to facilitate interdisciplinary learning and collaboration on emerging economic security challenges.