ED conducted 1,758 raids in money laundering cases from 2011-2020; 23 convicted

Enforcement Directorate (ED) has executed around 1,758 raids and particular investigations between 2011 and 2020 under the provisions of Avoidance of Income Laundering Act, 2002 (PMLA) the Ministry of Finance informed the Parliament.  The govt in its response reported that in between July 2005 and February 2022, ED has been ready to safe only 23 convicts for the offence of revenue laundering and one was discharged on the foundation of benefit. 

 

Member of Parliament, Manish Tiwari raised the unstarred question in the Lok Sabha, through the ongoing Spending plan Session.  

 

Involving April 2011 to March 2020, ED conducted 1,027 lookups and raids below and Overseas Trade Management Act 1999 (FEMA) and 1,758 lookups under PMLA. For the duration of the very same interval, Enforcement Scenario Facts Report (ECIR) were recorded for 1,999 circumstances below PMLA. On the other hand, 18,003 investigations ended up initiated below FEMA. 

 

The Ministry of Finance even further stated that the prosecution complaints have been filed in 943 circumstances which are under various phases of demo.  

 

The authorities also added that through 2004-14, 112 queries ended up carried out which resulted in proceeds of criminal offense well worth Rs 5346.16 crore and submitting of 104 prosecution complaints. For the duration of 2014-22, 2,974 searches have been conducted, which resulted in proceeds of criminal offense well worth Rs 95,432.08 crore and filing of 839 prosecution grievances.  

 

From July 2005 to March 2022, ED underneath PMLA performed searches in 3,086 scenarios, ECIRs recorded were being 4,964, and only 943 prosecution issues have been submitted. 

 

“Increase in quantity of lookups demonstrate Government’s determination to protect against funds laundering and enhanced methods for gathering financial intelligence by way of use of know-how, much better inter-company cooperation and exchange of facts each domestically and internationally, concerted initiatives to full pending investigations in outdated conditions and investigations in complex dollars laundering instances that have numerous accused necessitating many searches are some of the reasons for maximize in range of queries,” the govt explained.