NEW DELHI: Crime should not pay and criminals must not be allowed to enjoy proceeds of crime , ED director Rahul Navin said on Thursday while addressing a gathering of senior officers and representatives from foreign enforcement agencies at the Enforcement Directorate foundation day meet here. He said the central agency remains steadfast in its mission to prevent the proceeds of crime from entering legitimate financial channels.
Citing data from ED investigations, the director said during 2024-25, assets worth Rs 30,036 crore were attached, a 141% increase over the previous year, while the number of attachments recorded a 44% increase. The total attachments of assets, so far, stands at Rs 1.55 lakh crore. Last year, ED had registered 775 new investigations under Prevention of Money Laundering Act, up from an average 511 annually during last decade. To expedite trials of money laundering cases, ED in the last 12 months has filed a record 333 prosecution complaints (chargesheets).
"Till date, ED has filed prosecution complaints in 1,739 cases, which are at present at various stages of trial. Delays in the adjudication of these cases can be attributed to the general delay in the judicial system and are also as a result of the inherent complexity of money laundering investigations as well as procedural linkages with trial of a predicate offence," the director said.
To ensure attached assets remain productive, the agency recently started a drive for restitution of these properties to their rightful beneficiaries and compensate victims under the non-conviction-based confiscation and restitution provisions of the PMLA and the Fugitive Economic Offenders Act (FEOA). Restitution of Rs 15,261 crore, with the approval of courts, was done in 30 cases in the last financial year, Navin said, adding that it will further accelerate this year.
"We acknowledge candidly that several PMLA investigations are pending for a very long time, and one of the focus areas this year, would be to undertake efforts to complete the investigations," he said, admitting that long-pending probes may fail to create deterrence, and instead attract criticism.
Citing data from ED investigations, the director said during 2024-25, assets worth Rs 30,036 crore were attached, a 141% increase over the previous year, while the number of attachments recorded a 44% increase. The total attachments of assets, so far, stands at Rs 1.55 lakh crore. Last year, ED had registered 775 new investigations under Prevention of Money Laundering Act, up from an average 511 annually during last decade. To expedite trials of money laundering cases, ED in the last 12 months has filed a record 333 prosecution complaints (chargesheets).
"Till date, ED has filed prosecution complaints in 1,739 cases, which are at present at various stages of trial. Delays in the adjudication of these cases can be attributed to the general delay in the judicial system and are also as a result of the inherent complexity of money laundering investigations as well as procedural linkages with trial of a predicate offence," the director said.
To ensure attached assets remain productive, the agency recently started a drive for restitution of these properties to their rightful beneficiaries and compensate victims under the non-conviction-based confiscation and restitution provisions of the PMLA and the Fugitive Economic Offenders Act (FEOA). Restitution of Rs 15,261 crore, with the approval of courts, was done in 30 cases in the last financial year, Navin said, adding that it will further accelerate this year.
"We acknowledge candidly that several PMLA investigations are pending for a very long time, and one of the focus areas this year, would be to undertake efforts to complete the investigations," he said, admitting that long-pending probes may fail to create deterrence, and instead attract criticism.
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