Unraveling Money Laundering: ED's Legal Maneuvering
Additional Solicitor General S V Raju emphasized that the closure of a predicate offence does not impede the Enforcement Directorate's investigation into money laundering. Highlighting the interconnectedness of predicate offences and money laundering, Raju encouraged the ED to leverage its authority under PMLA to ensure comprehensive investigations.
- Country:
- India
In a pivotal address, Additional Solicitor General S V Raju underscored the importance of continuing investigations into money laundering, even when a predicate offence case is discharged. Speaking at the '70th Enforcement Directorate (ED) Day' event, he highlighted the need for a cohesive understanding of financial crime laws.
Raju emphasized that the Prevention of Money Laundering Act (PMLA) mandates the linkage of a money laundering case to a predicate or scheduled offence. Without proceeds of crime, he asserted, there can't be a money laundering case, defining the predicate offence as the crime's lifeline.
The ASG called on the ED to exercise its powers under PMLA to collaborate with primary investigative agencies, ensuring that lapses do not allow illegal financial activities to be overlooked. He spoke against closure reports, suggesting strategic legal recourse to maintain prosecutorial momentum against financial crimes.
(With inputs from agencies.)
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