New Delhi: Driving on its improved global ranking in the fight against money laundering, the Indian financial agency for the fight against crime, the Directorate for Enforcement (ED), now favors violations of the foreign probe (Forex) and direct foreign investment (FDI).
Navivin, who spoke to the ED event in the National Capital, said the multidisciplinary probe in the recent past increased its coercive measures to laundry, which led to restitution £15 261 crore victims such as investors and banks in 30 cases in FY25.
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Last September in Paris, based in Paris (FATF), a global agency that develops politicians in the fight against money laundering and terrorism, has placed India in its “regular category”, which is only the United Kingdom, France and Italy between G-20 countries.
“Another area where this year we will focus on violations of the law on foreign exchange management (FEMA),” Navin said.
The ED was entrusted with the enforcement of FEMA to ensure that the rules, regulations, announcements, circulars, directives and orders issued by the Central Government and the Indian Reserve Bank (RBI) are a letter by letter and spirit, Navin said.
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“In order to fulfill this mandate, ED will carry out the necessary investigations and decisions and imposes sanctions in the event of failure related to export-iMPort, violations of FDI-related standards, and external commercial loans, restrictions on soil ownership according to unauthorized channels through unauthorized channels. And the fact that they will be able to combine with compliance, which are fulfilled that will be able to create land for land ownership, and that land will be caused by land, ”Navin said.
FEMA is a civil law and the parties by default or violations can voluntarily apply to ED or RBI for the composition of crimes or settlement by payment of the amount. Once the crime is imposed, no other measures will be interconnected against the person.
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To speed up the restitution of assets involved in money washing, ED is increasingly accepted by the “seizure and restitution based on harmony”, the global practice of forfeiture if it is not possible to obtain criminal convictions for factors such as dead, unknown or missing or missing or in old cases.
Navin stated that in the early years, after the prevention of the money laundering Act (PMLA) in force in 2005, less than 200 cases were recorded per year. The total attached criminal assets were only £5 171 Crore until March 31, 2014, with the first complaint about the prosecution only in 2012.
In the past decade, however, there was a significant increase in PMLA, while at the age of 2024, 5,113 new money probes were launched, which on average annually, the head of the probe agency said.
In FY25, up to 775 new PMLA investigations started, 333 complaints were filed and 34 individuals were convicted, Navin said.
During this period, Ed 461 has released interim commands to connect £30 036 Crore – 44% increase in number of attachments and 141% increase in value compared to the previous year. As of 31. £1.55 trillion, according to official data.
Another general lawyer in the India of Sv Raja, who was present on this occasion, said that ED officials should “use their power to arrest liberally but sparingly” because the right land for arrest and its timing was important.
(Tagstotranslate) Directorate for Pravo enforcement
