ED investigating 7,393 FEMA, - 963 PMLA cases

NEW DELHI: The government has confiscated Rs 6.88 crore and imposed Rs 42 crore penalty in the first six months of the fiscal on those violating the Foreign Exchange Management Act (FEMA), Parliament was informed on Tuesday. The government has also provisionally attached properties worth Rs 16,104 crore and confiscated Rs 0.52 crore as part of the Prevention of Money Laundering Act, 2002 (PMLA) investigations in the first half of 2019-20.

“As on 30.09.2019, Enforcement Directorate is conducting investigations in 963 cases under PMLA and 7,393 cases under FEMA,” minister of state for finance Anurag Thakur told the Rajya Sabha in a written reply to a question on action against financial crimes.

Investigating agencies had imposed Rs 1,907 crore penalty and confiscated Rs 3.45 crore under FEMA in 2018-19. Penalties worth Rs 179 crore and confiscations of Rs 11.49 crore were made in 2017-18. As for PMLA, Rs 15,490 crore worth of properties were attached in 2018-19, up from Rs 7,432 crore in FY18.