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    Money laundering, forex violation cases registered last year highest since 2013

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    Money laundering, forex violation cases registered last year highest since 2013

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    The Enforcement Directorate (ED) registered highest cases since 2013 under the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA) in the financial year 2022.

    The Enforcement Directorate (ED) registered 5,313 cases under the Foreign Exchange Management Act (FEMA) and 1,180 cases under the Prevention of Money Laundering Act (PMLA) in the financial year 2022 alone, as per the details provided by the government to the Parliament.
    The number of cases registered last year is the highest since 2013.
    Year-wise details of FEMA and PMLA cases
    Source: Ministry of Finance in Lok Sabha
    The information was provided to Lok Sabha in a written reply by Minister of State for Finance Pankaj Chaudhary.
    Under PMLA, the agency has attached proceeds of crime of about Rs 1,04,702 crore and filed prosecution complaints or charge sheets in 992 cases with the confiscation of Rs 869.31 crore and conviction of only 23 accused.
    ED has issued over 8,000 Show Cause Notices (SCNs) under FEMA out of which, 6,472 were adjudicated. It has imposed a total penalty of Rs 8,130 crore and seized assets worth about Rs 7,080 crore under FEMA.
    ED is mandated with the task of enforcing provisions of FEMA, PMLA and Fugitive Economic Offenders Act, 2018 (FEOA).
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