Global terror financing watchdog Financial Action Task Force (FATF), in its report on global best practices, extensively mentioned cases where India's Enforcement Directorate (ED) has efficiently dealt with money laundering cases and recovered assets from economic offenders.

The FATF report on 'Asset Recovery Guidance Best Practices' provides an updated framework for strengthening global systems of asset recovery against financial crimes and cites case studies on how enforcement agencies cracked down on fraudulent activities concerning investment, property, banking and offshore money laundering.

The FATF guidance cites several examples from India, illustrating good practices in tracing and recovery of assets. One example highlights the case of Agri Gold, where coordinated action between the ED and Andhra Pradesh State Crime Investigation Department resulted in the attachment and restoration of assets worth Rs 6,000 crore (USD 690 million) to victims of an investment fraud. Another case related to the IREO group notes the attachment of immovable properties worth RS 1,777 crore  (USD 204 million), equivalent to proceeds of crime transferred outside India, under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), demonstrating India's use of value-based confiscation.

The guidance also references India's Fugitive Economic Offenders Act, 2018, as a notable illustration of the doctrine of fugitive disentitlement, which enables confiscation of property belonging to offenders evading judicial processes.                                  -PTI