ED registers 3,497 cases under Prevention of Money Laundering Act in five years

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The government told the Lok Sabha on Monday that during the last five years, the Enforcement Directorate (ED) has registered 3,497 cases under the provisions of the Prevention of Money Laundering Act. Minister of State for Finance Pankaj Chowdhary gave this information in written reply to the question of Deepak Baij in the Lok Sabha.

The member sought details of money laundering cases registered by the Enforcement Directorate during each of the last five years. To this, Union Minister Choudhary said that the Enforcement Directorate is an investigative agency entrusted with the task of implementing the provisions of FEMA, PMLA and Fugitive Economic Offenders Act 2018.

According to the data presented by the Minister of State for Finance in the Lower House, the Enforcement Directorate registered 195 cases in the year 2018-19, 562 cases in the year 2019-20, 981 cases in the year 2020-21, under the provisions of the Prevention of Money Laundering Act. Registered 1,180 cases in 2021-22 and 579 cases in the year 2022-23 till 28 February 2023.

Thus, during the last five years, the Enforcement Directorate has registered 3,497 cases under the provisions of the Prevention of Money Laundering Act, according to government data. Minister of State for Finance Pankaj Chowdhary said that during the investigation under the provisions of PMLA and FEMA, the role of many Indian shell companies and foreign companies in money laundering has been seen.

He said that action has been taken in these cases under the provisions of PMLA and FEMA. He said that disclosing further information would not be in the larger public interest as it may hamper the ongoing investigation.

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