The FATF report said India’s legal and institutional framework for combating money laundering and recovering illicit assets is “robust and reliable,” setting an example for other nations. It highlighted the ED’s efficiency in tracing, seizing, and returning assets derived from financial crimes, terming India’s model an “influential global example.”
One cited instance came from Maharashtra, where illegally acquired properties were confiscated and restored to rightful owners. The watchdog noted that India has taken “concrete steps to utilise confiscated assets for public welfare,” crediting the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (2018) for strengthening enforcement and asset management.
Among the key cases featured, the report mentioned the return of victims’ assets in the Rs 17,520 crore Rose Valley Ponzi scam, the seizure of 268 Bitcoins worth ₹130 crore in a joint India–US operation, and the restoration of ₹6,000 crore in coordination with Andhra Pradesh Police CID. FATF also cited the confiscation of immovable property worthRs17.77 billion under the PMLA.
Praising India’s victim-centric approach, inter-agency coordination, and technological integration, the FATF said the country has “set a new global standard for transparency and accountability in financial crime investigations.”
However, even as the FATF lauded India’s enforcement record, the Supreme Court is reviewing the extent of the ED’s powers under the PMLA. Over 200 petitions challenging provisions related to arrest, property seizure, and disclosure of case information are pending before a seven-judge bench, which will determine the balance between enforcement authority and individual rights.
2.jpg)
