The Enforcement Directorate (ED) has been busy tackling money-laundering cases since 2014, with over 5,200 cases registered. According to the government, there have been 40 convictions and 3 acquittals in these cases.
Minister of State for Home Nityanand Rai shared this information in response to a question in the Lok Sabha. Out of the 5,297 cases registered under the Prevention of Money Laundering Act (PMLA), 40 resulted in convictions. However, there were also 3 cases where the accused were acquitted.
In addition, a total of 375 accused individuals are currently under arrest for violating anti-money laundering laws between 2016 and 2024. This highlights the ED’s efforts to crack down on financial crimes and hold perpetrators accountable.
Moreover, the government revealed that the conviction rate in money laundering cases stands at an impressive 93%. This shows the effectiveness of the ED’s investigations and legal proceedings in combating financial crimes.
Furthermore, Minister of State for Finance Pankaj Chaudhary shared that a total of 7,083 Enforcement Case Information Reports (ECIRs) have been filed by the agency. These reports play a crucial role in building cases against individuals involved in money laundering activities.
Additionally, assets worth over Rs 1.39 trillion have been seized, frozen, or attached under the PMLA. The total value of proceeds seized, frozen, and attached under this law is significant, demonstrating the ED’s commitment to recovering illicit funds and preventing money laundering.
The Prevention of Money Laundering Act, enacted in 2002 and implemented in 2005, has been instrumental in enabling authorities to track, investigate, and prosecute individuals involved in money laundering activities. The high conviction rate and substantial asset seizures underscore the government’s determination to combat financial crimes and safeguard the integrity of the financial system.
Overall, the data shared by the government highlights the ED’s proactive approach in addressing money laundering cases and its success in securing convictions against offenders. By continuing to strengthen enforcement measures and cooperation with international agencies, the ED plays a crucial role in safeguarding the financial system from illicit activities.
