India needs specialised financial-security workforce as illicit finance risks grow: Rashtriya Raksha University (RRU)

By R Anil Kumar

Bengaluru, August 13. India needs a specialised professional workforce capable of protecting banks, financial institutions and the wider economy from increasingly sophisticated money laundering, terrorism financing and cross-border financial crimes, Sunil Kavishwar, Director, School of Criminal Law and Military Law at Rashtriya Raksha University (RRU), told reporters replying to a set of queries here.

Against this backdrop, RRU has positioned its Master’s programme in Financial and Economic Security (MFES) as a specialised academic programme aimed at creating a national cadre of professionals in financial crime compliance, risk management and economic security, Kavishwar said.

The one-year, full-time master’s programme carries a fee of Rs 3 lakh and is expected to have at least 60 students in the next cohort, with another 10-20 participants potentially coming from other countries, he said.

Kavishwar said the programme was designed to address a growing gap between India’s financial-security regulations and the availability of professionals with specialised expertise to implement them.

“India needs people who understand financial crime risk and passionately take up compliance or risk management as an area,” Kavishwar said, stressing the need to create a large national workforce capable of securing financial institutions against money laundering, terrorism financing, bribery, corruption and illicit transactions linked to narcotics and arms trafficking.

The business implications are significant as financial-crime controls are increasingly linked to the resilience and credibility of financial systems, Kavishwar said. International assessments, including those conducted by the Financial Action Task Force (FATF), examine how effectively countries implement measures against money laundering and terrorism financing.

Kavishwar said the MFES curriculum seeks to train professionals across the entire financial-security chain — from global standards and Indian legislation to institutional compliance, investigation and enforcement.

It covers frameworks of the United Nations, FATF and International Monetary Fund, besides Indian laws including the Prevention of Money Laundering Act, Fugitive Economic Offenders Act and Unlawful Activities (Prevention) Act, he said.

Students will also study financial accounting, forensic investigation, fraud, cyber risks, regulatory controls, KYC, financial intelligence and the roles of institutions such as the Financial Intelligence Unit-India, Enforcement Directorate and National Investigation Agency, Kavishwar said.

A key component is the growing intersection between finance and technology. The programme covers cryptocurrencies, virtual assets, artificial intelligence, machine learning, emerging payment systems and cross-border financial crime, he said.

Kavishwar said this was intended to make the programme relevant to the next generation of risks confronting banks, financial institutions, regulators and businesses.

Unlike short-term professional certifications in anti-money laundering and financial crime, RRU is positioning MFES as a comprehensive academic degree combining classroom instruction with practitioner-led training and practical exposure, Kavishwar said.

The programme requires candidates to have at least 60 per cent marks in a recognised graduation programme and three years of work experience. Applicants can come from banking, chartered accountancy, law, professional services, jewellery and precious-metals businesses, exchange houses, policing and other relevant sectors, he said.

Kavishwar said the employment opportunity extended beyond creating new jobs. Existing banking and financial-services professionals could use the programme to move into compliance, risk management and financial-crime functions, while institutions could sponsor employees to strengthen their internal controls.

RRU would also provide students with exposure to regulatory and law-enforcement institutions through visits and internships, giving them practical understanding of financial-crime investigations and compliance systems, he said.

Kavishwar said the programme was also being developed as an international capacity-building initiative, with RRU expecting participation from professionals and officials from foreign countries through India’s Indian Technical and Economic Cooperation framework.

RRU, an institution of national importance under the Ministry of Home Affairs, was established under the Rashtriya Raksha University Act, 2020, with its headquarters at Lavad, Gandhinagar.

Kavishwar said the university had expanded its academic and training footprint to several states, including Karnataka, with the Shivamogga campus offering programmes in security management, defence and strategic studies, criminology and forensic science and applied psychology.

The MFES initiative represents a sharper move into the intersection of finance, national security and economic resilience, Kavishwar said, adding that financial-crime prevention must be viewed not merely as a compliance function but as a critical component of protecting India’s financial system.

About Rashtriya Raksha University (RRU)

Masters in Financial and Economic Security (MFES) programme Cohort 2.0 launched in collaboration with the Indian Institute of Corporate Affairs (IICA), Ministry of Corporate Affair

Rashtriya Raksha University (RRU), an Institution of National Importance under the Ministry of Home Affairs, Government of India, engaged with the media in Bengaluru on 13 August 2026 to highlight the second cohort of its flagship Masters in Financial and Economic Security (MFES) programme, a specialised hybrid programme for working professionals, offered in collaboration with the Indian Institute of Corporate Affairs (IICA), Ministry of Corporate Affairs, Government of India.

Speaking about the programme, Prof. (Dr.) Bimal N. Patel, Vice Chancellor, Rashtriya Raksha University, remarked “Financial and economic security is no longer a specialised concern limited to financial institutions; it is increasingly integral to national security, economic resilience and public trust.” He further emphasised that MFES reflects RRU’s vision of connecting learning with purpose, by developing skilled practitioners who can understand emerging threats, respond with expertise and contribute to safeguarding financial integrity.

Gyaneshwar Kumar Singh, Director General and CEO, Indian Institute of Corporate Affairs, stated, “The Masters in Financial and Economic Security is a flagship collaboration between IICA and RRU, created to respond to the evolving challenges of financial and economic crimes. Through advanced analytical tools, legal expertise, investigative techniques and practical learning, the programme seeks to build future leaders equipped to safeguard economic integrity and contribute to a more secure and prosperous future.”

With the launch of MFES Cohort 2.0, RRU and IICA reaffirm their commitment to strengthening India’s pool of specialized workforce in financial and economic security and nurturing skilled practitioners, who can anticipate emerging risks, respond effectively and contribute to a secure, resilient and transparent economic environment

Speaking on the occasion, Sunil Kavishwar, Director, School of Criminal Law and Military Law, Rashtriya Raksha University, said that the first cohort saw participation from compliance officers, financial institutions, supervisory authorities, law enforcement and prosecution agencies.

The second cohort has been opened for registrations from international participants and with that RRU will set the benchmark in creating cadres in financial security at global level.

Addressing the gathering, Dr. Nandha Kumara Pujam. S, Associate Director, Rashtriya Raksha University, Shivamogga Campus, Karnataka, shared that the Rashtriya Raksha University is also pleased to share that the University operates a fully dedicated campus in Karnataka’s Shivamogga, wherein a diverse range of security-focused academic programmes are offered, providing students with opportunities to pursue education across emerging and multidisciplinary domains.

Thep rogrammes include B.A. in Security Management; B.A./B.Sc. in Defence & Strategic Studies; M.A./M.Sc. in Defence & Strategic Studies; M.A./M.Sc. in Criminology & Forensic Science; and M.Sc. in Applied Psychology. Furthermore, the Karnataka campus provides a rigorous training atmosphere, including a criminal investigative laboratory, an advanced computer lab, library, inhouse gym, and an NCC unit. Students benefit from structured internships with central and statepolice organisations, forensic science laboratories, Central Prison Shivamogga, and Central Institute of Psychiatry. The campus also operates a psychosocial counselling centre at CentralPrison, Shivamogga, extending RRU’s expertise in correctional psychology and mental health services. Through these programmes, RRU continues to expand access to specialised security education and develop skilled professionals equipped to address the evolving security needs of society and the nation. Rashtriya Raksha University, Karnataka campus welcomes aspiring students who are committed to serving the nation and making a meaningful contribution to India’s national security and law enforcement landscape.

Addressing the event Venkateshwara Rao, AO, Karnataka Campus, said that the admissions for postgraduate programmes are open

The MFES Cohort 2.0 marks a significant step forward in RRU’s endeavour to build a specialised professional ecosystem equipped with the knowledge, investigative capabilities and security-oriented understanding required to address the increasingly sophisticated nature of financial and economic crimes in an evolving digital and interconnected financial landscape.

The programme adopts a multidisciplinary and practice-oriented approach, integrating law, finance, investigation, regulation, emerging technologies and economic security through real-world case studies, analytical tools and expert-led learning. The hybrid learning model enables working professionals to balance advanced education with professional commitments while fostering meaningful engagement with experts and networks across law enforcement, regulatory agencies, financial institutions, corporate organizations and the wider RRU–IICA ecosystem.