‘Property worth Rs 81,422 crore seized last year’, Director Rahul Naveen called it a big achievement of ED

On the occasion of ED Day, Enforcement Directorate (ED) Director Rahul Naveen clarified that the agency is now focusing on new economic crimes like crypto currency fraud, cyber crime, terror financing and drugs smuggling. He said, ‘A few years ago, our enforcement work mainly focused on bank frauds, large corporate scams and real estate frauds. Sustained action by investigating agencies, complemented by important government initiatives such as the Insolvency and Bankruptcy Code and the Real Estate Regulation and Development Act, has led to a marked decline in such crimes.’

He said, ‘Today’s criminal landscape is defined by cryptocurrency fraud, cyber-based financial crimes, terrorism funding, anti-national activities and narcotics trafficking. The Directorate has actively adapted to this change. We have given high priority to narcotics investigations and have adopted a targeted financial disruption strategy to trace illicit proceeds and dismantle narcotics networks. Our prompt and focused action in the Red Fort blast case is a testament to our close monitoring of the money laundering aspects of terrorism and espionage.

Rahul Naveen said, ‘Money laundering investigation is one of the most complex investigations in the field of law enforcement. These often involve multiple jurisdictions, involve complex cross-border transactions and multi-layered financial structures and require engagement with rapidly evolving technology. Despite these challenges, the performance of the Directorate in the financial year 2025-26 is a remarkable achievement. We filed 812 prosecution complaints, including 155 supplementary complaints, under PMLA this financial year, which is almost double the number of last year. To put this in perspective, more than 41 percent of all prosecution complaints filed by the directorate so far have been filed in the last two years alone. This acceleration in investigation and prosecution results is not accidental, it is the result of planned, sustained and intelligence-based efforts.

ED’s conviction rate is 94% and we are confident that in most of the more than 2,400 cases pending in lower courts, the accused will be convicted and the proceeds of crime confiscated. Of course, there are legal challenges before the courts, the most important of which is whether the trial of money laundering cases should be adjourned until the trial of the original offense is completed or should continue independently in line with international standards and FATF guidelines.

ED Director Rahul Naveen said, ‘Punishing the culprits is only a part of ED’s work. In almost all cases, a money laundering investigation is based on a criminal investigation conducted by the originating agency, which investigates the crime and prosecutes the offenders. Many of these crimes, such as fraud, corruption, narcotics, terrorism, cyber crimes, online money games, etc., generate substantial money from crime.’

He said, ‘Our responsibility is to ensure that these funds, including those derived from laundering, are secured through seizure or temporary attachment so that the criminals are not able to enjoy the fruits of their crime or the criminal funds are not used to continue further criminal activities. In the last financial year, the ED has seized assets worth Rs 81,422 crore, which is 170% more than the previous year. The total provisional attachment made by ED so far is Rs 2,36,017 crore. We have presented the detailed data of previous years in this regard in our annual report being released today and their summary has been given in the video being shown.

He said, ‘Normally, confiscation of crime proceeds and consequent compensation to crime victims is possible only after the conclusion of the trial and conviction of the accused, which in many cases takes a long time. To address this problem, PMLA was amended in 2019 to provide for non-conviction based confiscation (NCBC) and compensation of criminal proceeds during trial subject to fulfillment of certain conditions.

Using these provisions, the Directorate has paid compensation of Rs 63,142 crore to the victims and rightful owners such as banks, investors and home buyers. Behind all these figures is a family or organization which had lost hope of getting back its rights. In a landmark real estate case in Udaipur, the Directorate helped more than 200 home buyers to free their attached properties, an effort appreciated by the Hon’ble Supreme Court. In the case of PACL Limited, assets worth approximately Rs 2 crore were seized. Justice R. Through M. Lodha Committee, an amount of Rs 15,581 crore has been returned for distribution to hundreds of thousands of investors.

Rahul Naveen said, ‘Under the Fugitive Economic Offenders Act (FEOA), there is a provision to confiscate not only the proceeds of crime but also all the properties of fugitives in India or abroad, including properties located in the name of the rightful owners. In coordination with agencies like CBI, serious economic offenders who have fled abroad are being systematically pursued. As of March 31, 2026, proceedings have been initiated against 54 persons under the Fugitive Economic Offenders Act, of whom 21 have been declared fugitive economic offenders. Assets worth Rs 2,178 crore have been seized under the Act.

He said, ‘At the international level, India’s participation in global anti-money laundering efforts has increased. India currently chairs the Steering Group of the Asia/Pacific Asset Recovery Inter-Agency Network, ARIN-AP, and will host its Annual General Meeting in 2026. We are also preparing to host the GLOBE Plenary Session in 2028. The Enforcement Directorate will act as the focal point for the BRICS Asset Recovery Network during India’s Chairmanship in 2026. These are not merely formal roles – they reflect India’s growing authority and credibility in shaping global AML and CFT standards.