5,000 laundering cases in 10 yrs, conviction in only 40

Tribune News Service

New Delhi, September 1

In the past 10 years between 2014 and 2024, 5,297 cases have been registered under the Prevention of Money Laundering Act (PMLA). However, the conviction been achieved only in 40 cases while three persons have been acquitted during the period. Also, there has been almost 300 times increase in the registration of cases under PMLA since 2019.

The Supreme Court last month asked the Enforcement Directorate (ED) to focus on quality prosecution and evidence, while citing low conviction rate. It made this observation while hearing the bail plea of a Chhattisgarh-based businessman accused of money laundering. The three-judge Bench said the ED should do some scientific investigation to increase the conviction rate.

Interestingly, in 2016, the number of accused under arrest under the PMLA across all states and UTs was zero; in 2024, this figure is now 140, with Delhi recording the highest number of accused under arrest (36), followed by Jharkhand (18), Rajasthan (17), Chhattisgarh (10), Maharashtra and West Bengal (nine each), UT of Jammu and Kashmir (eight) and UP (seven). Three persons are currently under arrest under the PMLA in Punjab and two in Haryana.

The Home Ministry data states that the number of cases registered under the PMLA in 2020 was 708, the figure zoomed by 64 per cent in 2021 to 1,166 cases. In 2022, 1,074 cases under the PMLA were registered while there was a slight drop in cases registered in 2023 to 934. In 2024, 397 cases were registered till July.

Moreover, of the total 40 convictions during the period, 26 of them came in the past three years — eight convictions in 2022, nine each in 2023 and 2024 (till July). Of the total three acquittals, two came in 2017 and another this year.

The data further shows 195 PMLA cases were registered in 2014. The number remained below 200 till 2019. However in 2020, there was a 276 per cent jump in the number of cases, as the figure rose to 708 from 188 in 2019.

The Opposition has often criticised the ED for choosing to act against politicians from their ranks and have said that the agency has a dismal conviction rate.

276% jump in cases in 2020

The Home Ministry data shows that the number of PMLA cases stood at 188 till 2019. However in 2020, there was a 276% jump in the number of cases, as the figure rose to 708. This figure futher zoomed by 64 per cent in 2021 to 1,166 cases.