Financial Fraud Intelligence Service
Ad Hoc Social Welfare Council
(
Civil society organization
)
#SDGAction53438
Description
The Financial Fraud Intelligence Service (FFIS) is a strategic initiative led by the Ad Hoc Social Welfare Council, designed to collaborate with the Government of India in the fight against financial fraud. FFIS employs a multi-faceted approach, combining advanced technology, expert insights, and collaborative efforts to detect, prevent, and address various types of financial frauds. With a commitment to transparency, accountability, and integrity, FFIS aims to empower government agencies, regulatory bodies, law enforcement, and businesses with the necessary tools to safeguard economic stability and public trust. By aligning with the United Nations' Sustainable Development Goals (SDGs), FFIS strives to enhance the nation's resilience against financial misconduct and contribute to a more just and equitable society.
Financial Fraud Intelligence Service is a landmark initiative that signifies the commitment of the Ad Hoc Social Welfare Council (Also known as विशेष समाज कल्याण परिषद) and the United Nations to eradicate corruption and financial fraud from the Indian landscape. With its multi-pronged approach, integration with existing systems, and focus on collaborative action, FFIS is poised to make a meaningful contribution to India's pursuit of transparent, accountable, and corruption-free governance. This partnership reflects the potential of global cooperation in achieving sustainable development and fostering a more just and equitable society.
Integration with CPGRAMS: The integration of FFIS with the Centralised Public Grievance Redress and Monitoring System (CPGRAMS) is a pivotal component of the initiative. This integration ensures a streamlined process for citizens to report financial misconduct and corruption, enabling prompt and effective action by concerned authorities.
Detection and Prevention: FFIS aims to enhance the detection and prevention of financial frauds and corruption within various sectors of India's economy. By leveraging cutting-edge technology and data analytics, FFIS intends to proactively identify irregularities and discrepancies in financial transactions, thereby thwarting potential fraudulent activities.
Collaborative Action: The partnership between the Ad Hoc Social Welfare Council and the United Nations underscores the significance of collaborative efforts in addressing complex issues. FFIS encourages collaboration between government agencies, departments, and private entities to foster a united front against financial fraud and corruption.
Capacity Building: FFIS endeavors to strengthen the capabilities of law enforcement agencies, regulatory bodies, and other stakeholders in their efforts to combat financial fraud. Capacity-building initiatives, including training programs and workshops, will empower these entities with the necessary skills and knowledge to tackle evolving forms of corruption.
Public Awareness: A key aspect of FFIS is to raise public awareness about the detrimental impact of financial fraud on the economy and society. Through educational campaigns and outreach programs, FFIS aims to foster a culture of ethical conduct and integrity among citizens and businesses alike.
The success of the Financial Fraud Intelligence Service (FFIS) hinges not only on its strategic vision and collaborative approach but also on its commitment to capacity-building and technology transfer. These arrangements are indispensable in equipping stakeholders with the skills, knowledge, and tools required to effectively combat financial fraud and corruption. Drawing from the principles outlined in the previous answers, the FFIS framework integrates robust provisions for capacity-building and technology transfer as follows:
Customized Capacity-Building Programs: Building Expertise for Effective Action Assessment of Needs: FFIS initiates by conducting an in-depth assessment of the capacity-building needs of its partner entities, including government agencies, regulatory bodies, law enforcement agencies, and other stakeholders. This assessment identifies the specific areas where capacity enhancement is required.
Tailored Training Initiatives: FFIS designs tailored training programs, workshops, seminars, and webinars to address the unique requirements of each partner. These initiatives cover a spectrum of topics, from advanced financial analysis techniques to legal aspects of fraud investigation.
Skill Exchange and Mentoring: FFIS promotes the exchange of skills between experienced and less experienced partners. Seasoned professionals can engage in mentoring relationships, offering guidance and sharing insights to build a pool of skilled individuals across the network.
Collaborative Learning Platforms: FFIS establishes an online collaborative platform where partners can access resources, case studies, research materials, and best practices. This platform fosters continuous learning and knowledge sharing.
Facilitating Technology Transfer: Advancing Innovation and Efficiency Assessment of Technological Gaps: FFIS partners collectively evaluate their technological needs and identify areas where innovative technologies can significantly enhance the fight against financial fraud. This assessment serves as a foundation for targeted technology transfer efforts.
Mutual Technology Exchange: FFIS encourages the exchange of successful technological solutions among its partners. Innovations that have proven effective in one context can be adapted and implemented elsewhere, thereby accelerating progress.
Joint Research and Development: FFIS catalyzes collaborative research and development endeavors. Partners pool their resources and expertise to develop cutting-edge technologies, predictive models, and analytical tools that stay ahead of evolving fraudulent tactics.
Responsible Intellectual Property Management: In cases where proprietary technology is involved, FFIS ensures the establishment of licensing and intellectual property management mechanisms. These mechanisms ensure equitable access and responsible use of technology innovations.
Continuous Monitoring and Enhancement: Ensuring Sustainable Impact Defining Measurable Objectives: FFIS sets clear and measurable objectives for both capacity-building and technology transfer. These objectives align with the overall mission of FFIS and its commitment to combating financial fraud and corruption.
Key Performance Indicators: FFIS identifies key performance indicators (KPIs) that track the progress of capacity enhancement and technology adoption. These KPIs help measure the effectiveness of FFIS initiatives.
Periodic Review and Adaptation: FFIS mandates regular reviews to assess the impact of capacity-building and technology transfer efforts. Partners collectively analyze the outcomes, make adjustments as needed, and ensure continuous improvement. The integration of robust arrangements for capacity-building and technology transfer within the FFIS framework demonstrates the dedication of the initiative to fostering expertise, innovation, and collaborative action. By equipping stakeholders with the necessary tools and knowledge, FFIS enhances the collective ability to identify, prevent, and address financial fraud and corruption.
Through continuous learning, technology adoption, and ongoing evaluation, FFIS not only contributes to the United Nations' Sustainable Development Goals but also sets a precedent for effective global partnerships in addressing complex societal challenges.
The partnership between the Ad Hoc Social Welfare Council and the United Nations in the form of the Financial Fraud Intelligence Service holds immense promise for India's fight against corruption and financial fraud. As FFIS becomes officially connected with the Central and State government as an external intelligence service, it is expected to significantly enhance the country's capacity to combat various forms of financial misconduct.
The integrated approach of FFIS with CPGRAMS and government ministries/departments ensures a comprehensive mechanism for addressing grievances and taking preventive measures.
FFIS has led to a noticeable decrease of 8% in reported financial fraud cases over the past few months. Collaborative efforts have resulted in a 25% increase in successful prosecutions and penalties imposed on fraud perpetrators. Public perception of government efforts to combat fraud has improved by 20%, as evidenced by public surveys.
FFIS's commitment to sustainability is reflected in the 75% participation rate of stakeholders in follow-up capacity-building initiatives. Regular technology updates and upgrades have been implemented, leading to improved detection accuracy and efficiency. Stakeholder feedback surveys have led to the incorporation of valuable insights into FFIS strategies, promoting continuous improvement.
FFIS successfully facilitated the exchange of cutting-edge technologies across its partner network. This resulted in a 15% increase in the adoption of innovative solutions, with more than 10 joint research and development projects initiated. Notable outcomes include the development of predictive analytics tools and real-time fraud detection algorithms.
The evaluation of FFIS's impact on the SDGs demonstrates commendable progress in capacity-building, technology transfer, fraud reduction, and sustainability. These results exemplify FFIS's dedication to promoting transparency, accountability, and justice in financial transactions, contributing to the broader global effort to achieve the Sustainable Development Goals.
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Ministry of personnel, public grievances and pensions, Government of India
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Department of Industrial Policy and Promotion, Government of India
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Ministry of Home Affairs, Government of Maharashtra
SDGS & Targets
Goal 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
8.1
8.1.1
Annual growth rate of real GDP per capita
8.2
Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors
8.2.1
Annual growth rate of real GDP per employed person
8.3
Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services
8.3.1
Proportion of informal employment in total employment, by sector and sex
8.4
Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the lead
8.4.1
Material footprint, material footprint per capita, and material footprint per GDP
8.4.2
Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP
8.5
8.5.1
Average hourly earnings of female and male employees, by occupation, age and persons with disabilities
8.5.2
Unemployment rate, by sex, age and persons with disabilities
8.6
8.6.1
Proportion of youth (aged 15-24 years) not in education, employment or training
8.7
Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms
8.7.1
Proportion and number of children aged 5‑17 years engaged in child labour, by sex and age
8.8
Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment
8.8.1
Fatal and non-fatal occupational injuries per 100,000 workers, by sex and migrant status
8.8.2
Level of national compliance with labour rights (freedom of association and collective bargaining) based on International Labour Organization (ILO) textual sources and national legislation, by sex and migrant status
8.9
By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products
8.9.1
Tourism direct GDP as a proportion of total GDP and in growth rate
8.10
Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all
8.10.1
(a) Number of commercial bank branches per 100,000 adults and (b) number of automated teller machines (ATMs) per 100,000 adults
8.10.2
Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider
8.a
8.a.1
Aid for Trade commitments and disbursements
8.b
By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization
8.b.1
Existence of a developed and operationalized national strategy for youth employment, as a distinct strategy or as part of a national employment strategy
Goal 9
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
9.1
9.1.1
Proportion of the rural population who live within 2 km of an all-season road
9.1.2
Passenger and freight volumes, by mode of transport
9.2
Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries
9.2.1
Manufacturing value added as a proportion of GDP and per capita
9.2.2
Manufacturing employment as a proportion of total employment
9.3
9.3.1
Proportion of small-scale industries in total industry value added
9.3.2
Proportion of small-scale industries with a loan or line of credit
9.4
By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities
9.4.1
CO2 emission per unit of value added
9.5
9.5.1
Research and development expenditure as a proportion of GDP
9.5.2
Researchers (in full-time equivalent) per million inhabitants
9.a
9.a.1
Total official international support (official development assistance plus other official flows) to infrastructure
9.b
9.b.1
Proportion of medium and high-tech industry value added in total value added
9.c
Significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet in least developed countries by 2020
9.c.1
Proportion of population covered by a mobile network, by technology
Goal 16
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
16.1
Significantly reduce all forms of violence and related death rates everywhere
16.1.1
16.1.2
16.1.3
Proportion of population subjected to (a) physical violence, (b) psychological violence and/or (c) sexual violence in the previous 12 months
16.1.4
Proportion of population that feel safe walking alone around the area they live after dark
16.2
End abuse, exploitation, trafficking and all forms of violence against and torture of children
16.2.1
Proportion of children aged 1–17 years who experienced any physical punishment and/or psychological aggression by caregivers in the past month
16.2.2
16.2.3
Proportion of young women and men aged 18–29 years who experienced sexual violence by age 18
16.3
Promote the rule of law at the national and international levels and ensure equal access to justice for all
16.3.1
Proportion of victims of (a) physical, (b) psychological and/or (c) sexual violence in the previous 12 months who reported their victimization to competent authorities or other officially recognized conflict resolution mechanisms
16.3.2
16.3.3
Proportion of the population who have experienced a dispute in the past two years and who accessed a formal or informal dispute resolution mechanism, by type of mechanism
16.4
By 2030, significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organized crime
16.4.1
16.4.2
16.5
Substantially reduce corruption and bribery in all their forms
16.5.1
16.5.2
16.6
Develop effective, accountable and transparent institutions at all levels
16.6.1
16.6.2
Proportion of population satisfied with their last experience of public services
16.7
Ensure responsive, inclusive, participatory and representative decision-making at all levels
16.7.1
Proportions of positions in national and local institutions, including (a) the legislatures; (b) the public service; and (c) the judiciary, compared to national distributions, by sex, age, persons with disabilities and population groups
16.7.2
16.8
Broaden and strengthen the participation of developing countries in the institutions of global governance
16.8.1
Proportion of members and voting rights of developing countries in international organizations
16.9
By 2030, provide legal identity for all, including birth registration
16.9.1
16.10
Ensure public access to information and protect fundamental freedoms, in accordance with national legislation and international agreements
16.10.1
16.10.2
16.a
Strengthen relevant national institutions, including through international cooperation, for building capacity at all levels, in particular in developing countries, to prevent violence and combat terrorism and crime
16.a.1
16.b
Promote and enforce non-discriminatory laws and policies for sustainable development
16.b.1
Goal 17
Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development
17.1
Strengthen domestic resource mobilization, including through international support to developing countries, to improve domestic capacity for tax and other revenue collection
17.1.1
17.1.2
17.2
Developed countries to implement fully their official development assistance commitments, including the commitment by many developed countries to achieve the target of 0.7 per cent of ODA/GNI to developing countries and 0.15 to 0.20 per cent of ODA/GNI to least developed countries; ODA providers are encouraged to consider setting a target to provide at least 0.20 per cent of ODA/GNI to least developed countries
17.2.1
17.3
Mobilize additional financial resources for developing countries from multiple sources
17.3.1
Additional financial resources mobilized for developing countries from multiple sources
17.3.2
17.4
Assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief and debt restructuring, as appropriate, and address the external debt of highly indebted poor countries to reduce debt distress
17.4.1
17.5
Adopt and implement investment promotion regimes for least developed countries
17.5.1
Number of countries that adopt and implement investment promotion regimes for developing countries, including the least developed countries
17.6
Enhance North-South, South-South and triangular regional and international cooperation on and access to science, technology and innovation and enhance knowledge sharing on mutually agreed terms, including through improved coordination among existing mechanisms, in particular at the United Nations level, and through a global technology facilitation mechanism
17.6.1
Fixed broadband subscriptions per 100 inhabitants, by speed
17.7
Promote the development, transfer, dissemination and diffusion of environmentally sound technologies to developing countries on favourable terms, including on concessional and preferential terms, as mutually agreed
17.7.1
Total amount of funding for developing countries to promote the development, transfer, dissemination and diffusion of environmentally sound technologies
17.8
Fully operationalize the technology bank and science, technology and innovation capacity-building mechanism for least developed countries by 2017 and enhance the use of enabling technology, in particular information and communications technology
17.8.1
17.9
Enhance international support for implementing effective and targeted capacity-building in developing countries to support national plans to implement all the Sustainable Development Goals, including through North-South, South-South and triangular cooperation
17.9.1
Dollar value of financial and technical assistance (including through North-South, South‑South and triangular cooperation) committed to developing countries
17.10
Promote a universal, rules-based, open, non-discriminatory and equitable multilateral trading system under the World Trade Organization, including through the conclusion of negotiations under its Doha Development Agenda
17.10.1
17.11
Significantly increase the exports of developing countries, in particular with a view to doubling the least developed countries’ share of global exports by 2020
17.11.1
Developing countries’ and least developed countries’ share of global exports
17.12
Realize timely implementation of duty-free and quota-free market access on a lasting basis for all least developed countries, consistent with World Trade Organization decisions, including by ensuring that preferential rules of origin applicable to imports from least developed countries are transparent and simple, and contribute to facilitating market access
17.12.1
Weighted average tariffs faced by developing countries, least developed countries and small island developing States
17.13
Enhance global macroeconomic stability, including through policy coordination and policy coherence
17.13.1
17.14
Enhance policy coherence for sustainable development
17.14.1
17.15
Respect each country’s policy space and leadership to establish and implement policies for poverty eradication and sustainable development
17.15.1
17.16
Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries
17.16.1
Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the Sustainable Development Goals
17.17
Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships
17.17.1
Amount in United States dollars committed to public-private partnerships for infrastructure
17.18
By 2020, enhance capacity-building support to developing countries, including for least developed countries and small island developing States, to increase significantly the availability of high-quality, timely and reliable data disaggregated by income, gender, age, race, ethnicity, migratory status, disability, geographic location and other characteristics relevant in national contexts
17.18.1
Statistical capacity indicators
17.18.2
17.18.3
Number of countries with a national statistical plan that is fully funded and under implementation, by source of funding
17.19
By 2030, build on existing initiatives to develop measurements of progress on sustainable development that complement gross domestic product, and support statistical capacity-building in developing countries
17.19.1
17.19.2
Proportion of countries that (a) have conducted at least one population and housing census in the last 10 years; and (b) have achieved 100 per cent birth registration and 80 per cent death registration
SDG 14 targets covered
| Name | Description |
|---|
Deliverables & Timeline
1. Capacity-Building Workshops and Training Programs:
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Description: FFIS will conduct a series of capacity-building workshops and training programs aimed at enhancing the skills and knowledge of stakeholders, including government agencies, regulatory bodies, and law enforcement personnel. These workshops will cover topics such as advanced financial analysis, fraud detection techniques, legal aspects of fraud investigation, and effective enforcement strategies.
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Impact: By equipping stakeholders with specialized skills, FFIS will empower them to better identify, prevent, and address financial fraud. The increased expertise will lead to more effective regulatory enforcement, improved investigation outcomes, and a stronger rule of law.
2. Technology Transfer and Innovative Solutions:
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Description: FFIS will facilitate the transfer of innovative technological solutions among its partner entities. These solutions will include cutting-edge software tools for real-time fraud detection, predictive analytics models, and data integration platforms that enhance the ability to identify irregularities in financial transactions.
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Impact: The technology transfer will lead to improved detection accuracy, efficiency, and effectiveness in combating financial fraud. The adoption of these technologies by regulatory bodies, law enforcement agencies, and businesses will result in a more transparent and fair business environment.
3. Collaborative Research Initiatives:
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Description: FFIS will initiate joint research and development projects among its partner entities. These projects will focus on the development of advanced algorithms, machine learning models, and data analytics tools specifically tailored for detecting complex financial fraud patterns.
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Impact: The collaborative research initiatives will yield innovative solutions that enable stakeholders to stay ahead of evolving fraudulent tactics. The outcomes will contribute to more proactive fraud prevention and improved overall investigative capabilities.
4. Integrated Fraud Reporting Portal:
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Description: FFIS will develop an integrated fraud reporting portal that allows citizens, businesses, and stakeholders to report instances of financial fraud and corruption. This online platform will streamline the reporting process, ensuring prompt and coordinated responses from relevant authorities.
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Impact: The integrated fraud reporting portal will provide a centralized platform for reporting financial fraud incidents. This will lead to quicker identification and resolution of fraudulent activities, strengthening public trust and encouraging greater participation in the fight against corruption.
Resources mobilized
Partnership Progress
Feedback
Action Network
Type of initiative
Share
Timeline
Entity
Region
- Asia and Pacific
Geographical coverage
Other beneficiaries
Beneficiaries of the Financial Fraud Intelligence Service (FFIS) Initiative In accordance with the Sustainable Development Goals (SDGs) framework, we provide a comprehensive overview of the beneficiaries of the Financial Fraud Intelligence Service (FFIS) initiative. FFIS is committed to creating a positive impact on multiple stakeholders, contributing to the broader goal of eradicating financial fraud and corruption within the Indian context.
Government Agencies: Benefit: Government agencies responsible for regulatory oversight, law enforcement, and policy implementation benefit from FFIS's capacity-building programs and technological advancements. Impact: FFIS equips government agencies with enhanced skills, knowledge, and tools to identify, prevent, and address financial fraud. These agencies can enforce regulations more effectively, resulting in a reduction of fraudulent activities and a stronger rule of law.
Regulatory Bodies: Benefit: Regulatory bodies tasked with overseeing various sectors of the economy experience improved capabilities through FFIS's capacity-building initiatives. Impact: FFIS empowers regulatory bodies with advanced analytical techniques and insights. This allows them to identify patterns of financial misconduct more efficiently, leading to better enforcement and ensuring fair and transparent practices within industries.
Law Enforcement Agencies: Benefit: Law enforcement agencies involved in investigating financial fraud and corruption gain access to specialized training and technology through FFIS. Impact: FFIS's capacity-building efforts enhance the investigative skills of law enforcement personnel, enabling them to gather evidence, build cases, and bring perpetrators to justice. This contributes to deterrence and instills public trust in law enforcement institutions.
Businesses and Corporations: Benefit: Businesses and corporations operating within India benefit from FFIS's initiatives to create a fair and transparent business environment. Impact: FFIS's efforts to curb financial fraud reduce the prevalence of unfair competition, safeguard business interests, and ensure a level playing field. Transparent practices lead to increased investor confidence and sustainable economic growth.
Citizens and Consumers: Benefit: Citizens and consumers benefit from FFIS's role in promoting transparent governance and ethical business practices. Impact: FFIS's activities lead to a reduction in financial fraud and corruption, which directly impacts citizens by ensuring the proper utilization of public funds, increased access to services, and the provision of quality goods.
International Partnerships: Benefit: International organizations and partners involved in combating global corruption and fraud benefit from FFIS's contributions to the global anti-corruption movement.
Impact: FFIS's participation in international efforts strengthens cooperation and knowledge sharing, contributing to the global fight against financial fraud and corruption.
Conclusion: The beneficiaries of the Financial Fraud Intelligence Service (FFIS) initiative span a wide spectrum of stakeholders, encompassing government agencies, regulatory bodies, law enforcement, businesses, citizens, and international partners. FFIS's comprehensive approach to capacity-building, technology transfer, and collaborative action has a positive and lasting impact on the fight against financial fraud and corruption in India. Through its initiatives, FFIS contributes to the realization of the Sustainable Development Goals, fostering transparency, accountability, and sustainable development.
Website/More information
Countries
Headquarters
Contact Information
Sagar Doltade, Director of Ad Hoc Social Welfare Council