A recently published report by the Financial Action Task Force (FATF) places India and its Enforcement Directorate (ED) under the global spotlight for their role in asset recovery while also highlighting challenges that persist in the country’s enforcement and legal framework.

The “Asset Recovery Guidance and Best Practices” document, released earlier this month, underscores India’s “innovative” use of conviction-based and non-conviction based confiscation mechanisms, legal empowerment under acts such as the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act, and the country’s inter-agency coordination.

An Andhra Pradesh investment fraud scandal where the ED and state Crime Investigation Department cooperated to recover Rs 60 billion (approx USD 690 million

See Full Page