This division has been established with the approval of the Cabinet of Ministers and operates under the supervision and direction of the Inspector General of Police.
"No any special statutory power or mandate has been given to the FCID other than the powers vested with the Police Department," the statement said.
"The purpose of establishing this division is to employ the services of experienced group of officers to handle investigations on financial crimes of grave nature and expedite those investigations."
Anti-Corruption Committee is a Cabinet Sub-Committee headed by the Hon. Prime Minister, which was setup as per a decision taken at the Cabinet meeting held on 21 January 2015.
This Committee was setup with a view to recommending measures to be adopted to prevent the occurrence of large scale corruption and frauds in future.
On the recommendation of the Anti-Corruption Committee and the approval of the Cabinet of Ministers a dedicated Secretariat named Anti-Corruption Committee Secretariat was also established to coordinate the investigations of the allegations on serious frauds, financial crimes and corruption, the statement said.
"It should be noted that the FCID of the Police Department or the Anti-Corruption Committee Secretariat are not controlled by the Cabinet Sub-committee on Anti-Corruption by any means,"
"Although the progress of the investigations carried out not only by the FCID but also by the other law enforcement agencies is reviewed once a week so as to ensure effective law enforcement." the statement further said.