Masters in Financial and Economic Security (MFES)

Message from DG & CEO, IICA

Shri Gyaneshwar Kumar Singh

Director General & CEO, IICA

Dear Participants, Jai Hind!

In today’s rapidly evolving financial landscape, financial crime has emerged as one of the most significant threats to economic stability, corporate governance, and institutional integrity. Strengthening the nation’s capacity to prevent, detect, and combat financial crime requires a new generation of professionals equipped with specialized knowledge, analytical capabilities, and ethical leadership.

The Masters in Financial & Economic Security programme, offered in collaboration with Rashtriya Raksha University (RRU), is a pioneering initiative and one of its kind in India. The programme has been carefully designed to integrate academic rigor with practical insights into areas such as forensic accounting, anti-money laundering, fraud risk management, cyber-enabled financial crimes, regulatory compliance, and financial investigations.

This programme aims to create future-ready professionals who can contribute meaningfully to strengthening financial systems and promoting transparent, accountable, and resilient institutions.

I am confident that this unique academic journey will provide participants with the knowledge, perspective, and practical exposure necessary to address emerging challenges in the domain of financial crime. I extend my best wishes to all participants for a rewarding and enriching learning experience.

Message from Vice Chancellor (RRU)

Prof. (Dr.) Bimal N. Patel

Vice Chancellor, RRU

Dear Participants, Jai Hind!

It is my privilege to welcome you to the Masters in Financial and Economic Security program, a flagship initiative of Rashtriya Raksha University in partnership with the Indian Institute of Corporate Affairs. In an era where financial and economic crimes threaten global stability and security, this program is designed to address these critical challenges with innovation and expertise. As the first of its kind, this program provides a comprehensive understanding of financial crime mechanisms, investigative techniques, and emerging technologies and much more.

It involves a blended learning approach, participants gain insights from distinguished practitioners, academicians, and policymakers, ensuring both theoretical rigor and practical application.

At Rashtriya Raksha University, we are committed to developing professionals who will safeguard financial integrity, combat economic crimes, and strengthen governance. Join us on this transformative journey to build a safer and more secure future, where learning meets purpose and innovation drives progress.

“Together, let us create a more secure, resilient, and transparent economic environment, fostering trust and driving sustainable growth.”

Message from Program Director, IICA

Prof (Dr) Naveen Sirohi

Program Director (IICA), MFES

Dear Participants, Jai Hind!

Financial crime today transcends borders, sectors, and industries, impacting economies, businesses, and societies at multiple levels. As technology advances and financial systems become increasingly interconnected, the need for specialised expertise in identifying and mitigating financial crime has never been greater.

The Masters in Financial & Economic Security, developed in collaboration with Rashtriya Raksha University (RRU), is envisioned as a transformative and industry-oriented programme that bridges the gap between theoretical understanding and practical application. Being one of the first programmes of its kind in India, it offers a multidisciplinary perspective on financial crime, governance, compliance, investigation, and strategic risk management.

The programme combines academic excellence with case-based learning, expert interactions, and real-world exposure to prepare participants for leadership roles in the areas of financial integrity and regulatory enforcement. It is designed for professionals and aspiring specialists who seek to contribute to stronger governance frameworks and a more secure financial ecosystem.

We hope this programme empowers you with the confidence, competence, and critical thinking required to address the evolving dimensions of financial crime in India and globally. I warmly welcome you to this unique learning journey and wish you success ahead.

With the rapid expansion of digital economies and cross-border financial transactions, financial and economic crimes such as money laundering, cyber fraud, corporate misconduct, procurement fraud, and other complex financial offences have grown significantly in scale and sophistication. These evolving threats pose serious challenges to national security, institutional integrity, market confidence, and economic stability.

Addressing these challenges requires a new generation of professionals equipped with interdisciplinary expertise in financial forensics, investigative methodologies, regulatory and legal frameworks, risk management, and emerging technologies. Recognising this critical national imperative, Rashtriya Raksha University (RRU), in collaboration with the Indian Institute of Corporate Affairs (IICA), has designed the Master's in Financial and Economic Security, a flagship programme aimed at developing a specialised cadre of professionals capable of preventing, detecting, investigating, and mitigating financial and economic crimes, thereby strengthening India's economic security architecture.

*Formerly Masters in Financial and Economic Crimes (MFEC)

Overview Modules Important Dates Fees

Program Overview

Program Modules

Semester 1 (Administered by Rashtriya Raksha University)

Modules covered:

Modules	Hours	Credits
Introduction to Criminal Law and Procedure in India	60	4
International Organizations and Global Initiatives	60	4
Compliance and Regulation of Financial and Economic Activities in India	45	3
Laws related to Financial and Economic Crimes in India - I	60	4
Laws related to Financial and Economic Crimes in India - II	60	4

Semester 2 (Administered by Indian Institute of Corporate Affairs)

Modules covered:

Modules	Hours	Credits
Fundamentals of Finance and Economics	60	4
Financial Reporting and Frauds	45	3
Financial Crime Risk Management and Financial Forensics	45	3
Emerging Technologies and Economic Crimes	45	3
Dissertation and Viva-Voce	-	-

Program Eligibility

Educational Qualification: Graduates of any discipline, in regular mode, from any recognized university (India or abroad) or institutions of national importance as defined by MHRD/UGC. Minimum of 60% marks or equivalent grade in graduation.
Work Experience: A minimum of three years of experience is required, preferably in legal, financial, or regulatory institutions, corporations, or agencies.
Required Documents: A Letter of Motivation must be submitted along with proof of the minimum eligibility criteria.
Selection Process: The merit list will be prepared based on the Letter of Motivation, previous academic records, and relevant industry experience.
Duration: The duration of the entire program is 1 year in hybrid mode.

Timeline of the Program A.Y 2026-2027

Events	Dates
Last Date of Registration and Payment of Registration Fees	August 31, 2026
Release of Merit List	September 2026, First Fortnight
Last Date for the Payment of Semester 1 Fees	September 2026, Second Fortnight
Commencement of Classes	October 2026

* Please note that all dates and timelines are subject to change at the discretion RRU and IICA.

Program Fees (Batch-II)

Swipe

Fee Structure	Indian Participants	International Participants
Registration fees (Non-refundable)	₹5,000 Five Thousand Indian Rupees PAY FEE	USD 100 One Hundred USD CONTACT US
Program Fees (Lump-Sum)	₹3,60,000 Three Lakh Sixty Thousand Indian Rupees	USD 5,000 Five Thousand USD
The participants can pay the Program Fee in Lump Sum to the two institutions separately as under:
Fee payable at RRU (Before the commencement of Semester 1)	₹1,80,000 One Lakh Eighty Thousand Indian Rupees	USD 2,500 Two Thousand Five Hundred USD
Fee payable at IICA (Before the commencement of Semester 2)	₹1,80,000 One Lakh Eighty Thousand Indian Rupees	USD 2,500 Two Thousand Five Hundred USD
Bank Account Details of Indian Institute of Corporate Affairs (IICA)
Account No: 6048102100000007 Bank: Bank of India Branch: Manesar Account Type: Saving IFSC: BKID0006705

About IICA

The Indian Institute of Corporate Affairs (IICA) has been established by the Ministry of Corporate Affairs (MCA), Government of India to act as a think tank and a centre of excellence to augment the growth of the corporate sector in India through an integrated and multidisciplinary approach.

The institute has emerged as a leading player in training, capacity building, executive education, advocacy and advisory catering to various cadres, ministries, departments, CPSEs, MNCs, private sector and professionals.

Over the last decade, IICA has contributed immensely on priority initiatives of the Government of India and contemporary issues faced by the corporate sector and professionals like Corporate Governance, Independent Directors, Corporate Social Responsibility (CSR), ESG, Insolvency and Bankruptcy, Financial Reporting, Valuation, Mediation, Arbitration, Business and Human Rights, Investor Education and Protection, Competition Law, Regulatory Governance, MSME, Public Private Partnership (PPP), Start-Ups, Leadership etc.

About RRU

Established by the Parliament of India under Act No. 31 of 2020, Rashtriya Raksha University (RRU) is an Institution of National Importance under the Ministry of Home Affairs, Government of India. The University serves as India's pioneering national security and police university, fostering excellence in security, strategic studies, governance, law enforcement, and interdisciplinary education.

RRU has evolved into a leading centre for education, research, training, and capacity building through its distinguished civilian and security faculty, world-class academic ecosystem, and strong national and international collaborations. The University promotes innovation, leadership, and knowledge exchange to develop professionals capable of addressing contemporary and emerging security challenges.

The University contributes significantly to India's national capacity by advancing education and research in areas such as national security, policing, financial and economic security, cyber security, forensic sciences, intelligence, strategic affairs, criminology, law, governance, internal security, and emerging technologies.

Empowering NextGen Economic Security Experts