FATF lauds India’s asset recovery framework

The Financial Action Task Force (FATF) has praised India's asset recovery framework, describing the Enforcement Directorate (ED) as a “model agency” for its efficiency and coordination in tracing and confiscating criminal proceeds.

- HARSH KUMAR

In its report, “Asset Recovery Guidance and Best Practices”, the global money laundering and terrorist financing watchdog, shared multiple examples from cases investigated by the ED, citing them as models of effective asset recovery practice and inter-agency coordination.

Drawing from India’s legal framework underthe Prevention of Money Laundering Act, 2002, and its operational experience, the report stated that ED’s inputs helped shape key aspects of the guidance related to value-based confiscation, provisional attachment, and inter-agency cooperation. The Fugitive Economic Offenders Act, 2018 of India is also highlighted in the report as a very good example of the legal doctrine of fugitive disentitlement.