The Directorate of Enforcement (ED) has asked its officials to meet the target of filing 500 chargesheets (prosecution complaints) in the current financial year. At the same time, they have also been directed to prepare for an enhanced target in the next financial year.
According to sources, officials have further been instructed to expedite long-pending investigations, file prosecution complaints in appropriate cases and strengthen follow-up in matters related to confirmation, possession and restitution of attached properties.
The enhanced target for filing chargesheets is aimed at proactively concluding long-pending investigations and systematically reducing the lifecycle of new probes to a reasonable timeframe of one to two years, except in exceptionally complex cases, sources privy to the matter said.
These directions were issued by ED chief Rahul Navin to the anti-money laundering agency’s zonal officers during a recently held conference in Guwahati.
Zonal officers were advised to identify mature cases fit for filing final chargesheets and to minimise avoidable delays. The importance of identifying significant new cases was also emphasised to ensure that the directorate remains responsive to evolving patterns of economic crime.
The conference also reviewed the progress in the closure of Enforcement Case Information Reports (ECIRs) and the status of attached properties under the Prevention of Money Laundering Act (PMLA).
Emphasis was laid on expediting pending investigations, filing prosecution complaints in appropriate cases and strengthening follow-up in matters related to the confirmation, possession and restitution of attached properties.
The conference underscored that the significant statutory powers available under the PMLA carry a corresponding responsibility to exercise them with caution, fairness and accountability. Officers were advised to remain mindful of the impact of enforcement actions and ensure that summons and other statutory notices were issued judiciously, based on clear necessity and due application of mind.
Zonal heads were directed to intensify efforts to trace and secure proceeds of crime parked abroad, particularly in jurisdictions such as Dubai and Singapore. Greater use of international cooperation channels, financial intelligence inputs and analysis of cross-border fund flows was also emphasised to identify layering structures and beneficial ownership behind offshore assets.
The conference highlighted the need to closely examine cases involving manipulation of trade invoices, undervaluation of imports and other trade-based money laundering techniques. Officers were advised to coordinate with customs and other relevant agencies to detect illicit capital outflows disguised as legitimate trade transactions and identify proceeds of crime linked to various predicate offences.
Instances of potential collusion among corporate debtors, resolution professionals, members of the Committee of Creditors and other stakeholders were flagged as areas requiring scrutiny. It was emphasised that cases in which the Insolvency and Bankruptcy Code framework is misused to defeat attachment proceedings or legitimise proceeds of crime must be carefully examined and addressed.
Given the sharp rise in digital arrest scams and other forms of cyber-enabled financial fraud, zonal units were encouraged to prioritise investigations into such cases, especially those involving organised syndicates, cross-border elements and large-scale victimisation. The importance of digital forensics and financial trail analysis was reiterated.
The proliferation of illegal betting applications and unregulated online gaming platforms was identified as a growing challenge. Officers were advised to focus on dismantling the financial networks behind such platforms, including payment gateways, mule accounts and offshore operators.