Enforcement Directorate attaches crime proceeds of Rs 64,920 crore in bank fraud cases

The Finance Ministry on Tuesday said the Enforcement Directorate has dealt with 1.105 cases of banking fraud, seized crime proceeds of Rs 64.920 million and arrested 150 people.

In a written reply to a question in the Rajya Sabha, Minister of State for Finance Bhagwat Karad said the total number of delinquents with pending loans of Rs 25 lakh or more from public sector banks rose to 14,159. March 2023, 10.209 at the end of June 2019.

In case of private sector banks, the number of Morosas increased to 2.504 at the end of March 2023 from 1.950 at the end of June 2019.

“As per reports received from the Enforcement Directorate (ED), they have considered about 1,105 cases of banking fraud for their investigation as per the provisions of the Prevention of Money Laundering Act, 2002, including cases relating to deliberate crimes. (PMIA)”. “Necessary measures have been taken as per the provisions of PMLA, resulting in the interdiction of proceeds of crime worth Rs 64.920 million (approximately),” Karad said.