Black Money: ED attaches assets worth over Rs 9,000 cr

In a major action against black money hoarders and money launderers, the Enforcement Directorate (ED) has attached assets to the tune of Rs 9,003 crore and filed 173 charge sheets in the financial year 2014-15.

The agency, as part of its efforts to crack down on illicit funds in India and abroad, in the last year registered a mammoth 400 percent rise in the numbers of assets attached, over 500 percent increase in the number of criminal FIRs lodged, over 600 percent more numbers of arrests made of people suspected to be involved in laundering crimes and more than 200 percent jump in the filing of prosecution complaints or charge sheets as compared to the 2013-14 fiscal.

The agency which probes financial crimes under two prime laws of the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA) along with some old cases pending under the repealed Foreign Exchange Regulation Act (FERA) has broken all records of lodging complaints and prosecuting the accused of financial frauds, hawala and money laundering.

A report prepared in this regard, also accessed by PTI, has been submitted to the Special Investigation Team (SIT) on black money and the Finance Ministry.