In the last fiscal, 1,651 such cases were reported that involved an amount of Rs 11,083.11 crore, Minister of State for Finance Jayant Sinha said in written reply in Lok Sabha.
"On receipt of fraud reports from banks, various aspects related to the frauds are examined and concerned banks are advised to report the case to CBI/ Police/Serious Fraud Investigation Office and take further action against the companies and the persons involved," Sinha added.
The Directorate of Enforcement registered 572 cases under Foreign Exchange Management Act (FEMA) and 65 under Prevention of Money Laundering Act during April and October period of the current fiscal.
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