ED empowered under Modi govt. to fight ‘cancer’ of financial crimes, not target anyone: MoS Finance

Union Minister of State (MoS) for Finance Pankaj Chaudhary stated that the Enforcement Directorate (ED) has been given necessary powers to combat financial crimes and terror funding, not to target individuals. He highlighted the rise in financial crimes like money laundering, 'hawala' transactions, and corporate fraud as reasons for this strengthened agency. The ED achieved significant success with attachments worth ₹2.36 lakh crore since 2005 and a conviction rate of nearly 94% in money laundering cases. The agency also initiated proceedings under the Fugitive Economic Offenders Act (FEOA) against 54 individuals, confiscating properties worth ₹2,178.34 crore.