Home Business ED performed 1,758 raids in cash laundering instances from 2011-2020; 23 convicted

ED performed 1,758 raids in cash laundering instances from 2011-2020; 23 convicted

ED performed 1,758 raids in cash laundering instances from 2011-2020; 23 convicted

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Enforcement Directorate (ED) has performed over 1,758 raids and particular investigations between 2011 and 2020 below the provisions of Prevention of Cash Laundering Act, 2002 (PMLA) the Ministry of Finance advised the Parliament.  The federal government in its response stated that between July 2005 and February 2022, ED has been capable of safe solely 23 convicts for the offence of cash laundering and one was discharged on the idea of benefit. 

 

Member of Parliament, Manish Tiwari raised the unstarred query within the Lok Sabha, throughout the ongoing Funds Session.  

 

Between April 2011 to March 2020, ED performed 1,027 searches and raids below and Overseas Alternate Administration Act 1999 (FEMA) and 1,758 searches below PMLA. Throughout the identical interval, Enforcement Case Data Report (ECIR) have been recorded for 1,999 instances below PMLA. However, 18,003 investigations have been initiated below FEMA. 

 

The Ministry of Finance additional stated that the prosecution complaints have been filed in 943 instances that are below completely different phases of trial.  

 

The federal government additionally added that in 2004-14, 112 searches have been carried out which resulted in proceeds of crime price Rs 5346.16 crore and submitting of 104 prosecution complaints. Throughout 2014-22, 2,974 searches have been performed, which resulted in proceeds of crime price Rs 95,432.08 crore and submitting of 839 prosecution complaints.  

 

From July 2005 to March 2022, ED below PMLA performed searches in 3,086 instances, ECIRs recorded have been 4,964, and solely 943 prosecution complaints have been filed. 

 

“Improve in variety of searches present Authorities’s dedication to forestall cash laundering and improved methods for gathering monetary intelligence via use of know-how, higher inter-agency cooperation and trade of data each domestically and internationally, concerted efforts to finish pending investigations in previous instances and investigations in advanced cash laundering instances which have a number of accused requiring a number of searches are a number of the causes for enhance in variety of searches,” the federal government stated.  

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