India recovered $180bn from economic offenders in five years: Jitendra Singh
Gurugram, March 1
The Enforcement Directorate (ED) has recovered estimated assets of $180 billion out of $272 billion in the past five years from fugitives after the Economic Offenders Act came into force in 2018.
This was stated by the Union Minister of State for Personnel, Public Grievances and Pensions, Dr Jitendra Singh, who lauded the Prime Minister Narendra Modi-led government for taking “unprecedented anti-corruption steps”.
Singh was speaking at the anti-corruption working group meeting which commenced in Gurugram today. Chairing the meet with co-chair Italy, India today called upon the G20 nations to adopt multilateral action for the faster extradition of fugitive economic offenders and the recovery of assets both on domestic front well as from abroad.
Addressing the delegates, Singh said since its inception in 2010, the G20 anti-corruption working group (ACWG) had been at the forefront of addressing all forms of corruption.
He added that the Indian G20 presidency would build on the robust foundation laid in the G20 ACWG during the previous presidencies and further strengthen the G20 nations’ commitment to ensuring zero-tolerance against corruption.
Emphasising PM Modi’s vision of “a safe and secure world”, Singh claimed that it was the collective responsibility to chalk out several strategies to ensure fraud cases declined in the coming year.
“This government is pursuing economic offenders aggressively and ensuring nobody is able to misuse the exchequer. This amount duped is one of the major sources of terror funding.”
From illegal drugs that destroy young lives to human trafficking, from weakening democracies to the sale of illegal arms, this dirty money funds many destructive enterprises,” he added.
Exhorting the G20 countries to work towards proactive sharing of information, Singh said there was a pressing need for better coordination, streamlining of judicial processes and timely disposal of cases. This would also help banks, financial institutions and tax authorities achieve recovery from defaults committed by fugitive economic offenders (FEOs).
Zero tolerance for corruption
Since its inception in 2010, the G20 anti-corruption working group has been at the forefront of addressing all forms of corruption. India has called upon the G20 nations to adopt multilateral action for faster extradition of fugitive economic offenders and recovery of assets both on domestic front well as from abroad. — Dr Jitendra Singh, union minister of state for personnel, public grievances and pensions
