High Conviction Rate in Money Laundering Cases: 93% Success for Enforcement Directorate

The government revealed that the Enforcement Directorate has a 93% conviction rate in money laundering cases, with 7,083 ECIRs filed by July 31. Assets worth over Rs 1.39 lakh crore have been seized, frozen, or attached under the Prevention of Money Laundering Act, enacted in 2002 and implemented in 2005.

The government has announced that the Enforcement Directorate boasts a 93% conviction rate in money laundering cases, underscoring its significant success.

Minister of State for Finance, Pankaj Chaudhary, disclosed that up to July 31, a total of 7,083 Enforcement Case Information Reports (ECIRs) have been lodged by the agency.

Enacted in 2002 and enforced since July 1, 2005, the Prevention of Money Laundering Act (PMLA) has enabled the Directorate to seize, freeze, or attach assets worth over Rs 1.39 lakh crore. Specifically, assets worth Rs 3,725.76 crore have been seized, Rs 4,651.68 crore frozen, and Rs 1,31,375 crore attached under the Act.

(With inputs from agencies.)