Over 1,700 money laundering cases under trial: ED chief Rahul Navin

Enforcement Directorate (ED) Director Rahul Navin on Thursday revealed that over 1,700 money laundering cases are currently at the trial stage across Indian courts.

 

He attributed the delay in prosecution to the broader issue of slow judicial processes in the country.

 

Speaking at the ED Day event in New Delhi, Navin noted that 1,739 cases under the Prevention of Money Laundering Act (PMLA) are being tried in courts. While acknowledging the backlog of pending investigations, he assured that the agency is committed to expediting the filing of chargesheets.

 

Despite the delays, Navin highlighted the ED’s high conviction rate of 93.6 per cent. Of the 47 cases that have been concluded by courts so far, only three have resulted in acquittals.

 

 

The ED chief also emphasised the agency’s plans to strengthen investigations through the use of advanced technology and forensic tools.

 

The Enforcement Directorate, which marks its 69th anniversary this year, was established on May 1, 1956. It enforces two major criminal laws — the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) — in addition to the civil provisions of the Foreign Exchange Management Act (FEMA).

 

ED Director Rahul Navin also said that the anti-money laundering law was left "largely ineffective" before 2014, and the slowdown in adjudication of these cases can be attributed to the "general delay" in the judicial system of the country, coupled with the inherent complexity of such investigations.

 

Navin also said that the Enforcement Directorate had a "commendable conviction" rate of 93.6 per cent, as out of the 47 cases decided by courts till now, there have been only three acquittals.