PMLA action picked momentum after 2014: ED chief
There has been a significant increase in enforcement activity under the Prevention of Money Laundering Act (PMLA) since 2014, with 5,113 new investigations initiated between 2014 and 2024 — an average of over 500 cases per year. This marks a stark contrast to the pre-2014 period, when the first prosecution complaint under the Act was filed only in 2012, Directorate of Enforcement (ED) chief Rahul Navin said on Thursday at the agency’s foundation day function.
“In India, the PMLA was enacted in 2003 and came into force on July 1, 2005. However, in its initial years, the Act remained largely ineffective, with fewer than 200 cases recorded annually — mostly limited to drug-related offences. Until March 31, 2014, the total value of criminal property attached stood at just Rs 5,171 crore, and the first prosecution complaint was filed only in 2012. Since 2014, however, enforcement activity has seen a major uptick, with 5,113 new investigations launched between 2014 and 2024,” Navin said.
In 2024-25 alone, 775 new PMLA investigations were initiated, 333 prosecution complaints filed and 34 persons convicted, he added.
Navin added that during the same period, the ED issued 461 provisional attachment orders worth Rs 30,036 crore —reflecting a 44 per cent increase in the number of attachments and a striking 141 per cent rise in their total value compared to the previous year. As of March 31, 2025, the total value of assets under provisional attachment stood at Rs 1,54,594 crore.
The ED chief noted that delays in the adjudication of cases stem from both the broader backlog in the judicial system and the inherent complexity of money laundering investigations.
However, he expressed satisfaction with judicial outcomes, stating, “In cases where courts have reached a verdict, the outcomes have overwhelmingly upheld the strength of our enforcement actions. Of the 47 cases decided so far, there have been only three acquittals — resulting in a commendable conviction rate of 93.6 per cent.”
Speaking about seized assets, Navin said a large portion remains unproductive until final confiscation by the courts — a process that takes time. “To unlock the economic potential of these assets and compensate victims and legitimate owners, the ED has made concerted efforts to facilitate restitution under relevant laws, in collaboration with banks, financial institutions, state governments and law officers. As a result, Rs 15,261 crore was restituted in 30 cases during 2024-25. This process is likely to gain momentum in the current fiscal,” he added.
Navin also said beginning this year, the ED intends to intensify its focus on violations under the Foreign Exchange Management Act (FEMA). The agency will undertake necessary investigations, adjudication and impose penalties in cases involving export-import manipulations, FDI and external commercial borrowing violations, restrictions on land ownership by non-residents and the unauthorised transfer of money abroad.
Minister of State for Finance Pankaj Chaudhary, Additional Solicitor General of India SV Raju and Special Directors Subhash Agarwal and Prashant Kumar were present at the event, along with senior officials from the Revenue Department of the Finance Ministry.
India