ED recorded 3,497 cases under PMLA in last five years: Centre
Union MoS for finance Pankaj Chaudhary said necessary action as per provisions of PMLA and FEOA has been taken in these cases
The Enforcement Directorate (ED) recorded 3,497 cases under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in the last five years, the government informed Parliament on Monday.
Union minister of state (MoS) for finance Pankaj Chaudhary was replying to a query raised by Congress leader Deepak Baij.
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Baij had further asked the finance ministry to specify the details money laundering cases registered against offshore shell companies during the same period till March 20, 2023.
“During investigations under the provisions of PMLA and The Foreign Exchange Management Act, 1999 (FEMA), the role of several Indian Shell Companies & foreign companies/ offshore Shell Companies in money laundering has been noticed. Necessary action as per provisions of PMLA and Fugitive Economic Offenders Act, 2018 (FEOA) has been taken in these cases. Disclosure of further information may not be in the larger public interest as the same may hamper ongoing investigations”, MoS Chaudhary said in his written reply.
