NEW DELHI: Faced with a growing number of financial frauds, the corporate affairs ministry is setting up a new intelligence unit that will delve into 'data mining' from all possible sources to detect any wrongdoings by the companies and their promoters at the earliest possible stage.

"In the ministry, we are setting up an intelligence unit. It is at a nascent stage. We would be putting technical people with lot of experience and expertise on the job and these would be the people who can mine the data," corporate affairs minister Sachin Pilot told PTI in an interview here.

"The idea is to have a set of people to do the data mining, collection and checking of records that is available on various platforms, and them link them with the inputs from investigating agencies," Pilot said.

Source:  http://timesofindia.indiatimes.com/business/india-business/New-intelligence-unit-to-detect-corporate-frauds-Govt/articleshow/17820883.cms