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Odisha babus, cops get tips on checking money laundering


Reported by Chinmaya Dehury
Bhubaneswar, May 13:

With economic crimes playing havoc across the country, the Enforcement Directorate today sensitized the enforcement wings of various Odisha government departments and sought their coordination for proper implementation of the Prevention of Money Laundering Act (PMLA)-2002 in the state as well as across the country.

In order to implement the Act properly and track the money trails in white collar crimes, a workshop was held today under the chairmanship of  with the support of Enforcement Directorate (ED), Bhubaneswar.

Dr Rajan Katoch, Director, Enforcement
Dr Rajan Katoch, Director, Enforcement

The Enforcement directorate, which is responsible for the enforcement of the Act, is now on a sensitization campaign across the country to devise ways to crack down hard on economic offences in the country. The ED investigates not only the source of money laundering but also chases the money trail to trace the beneficiaries, places where the money is parked or invested etc

After the workshop, Chief Secretary Jugal Kishore Mohapatra said, “Economic offences play havoc in the life of common men. With financial globalization, the trailing ill gotten money has become very difficult. That is why there is a need for a coordinated effort among various enforcement agencies to track, prosecute and confiscate the properties of the offenders.”

Mohapatra said that the people have to be warned about the dangers involved in dubious investment schemes that promise very high returns.

Director General of Police (DGP) Prakash Mishra said that the type and nature of economic crimes have gone beyond the conventional definition of financial crimes.

“Enhancement of the service sector in the economy has brought economic offences into focus in recent days. The volume of scams, money laundering, cheat funds and land scams etc has gone to the extent that one agency will not be able to contain it. There has to be seamless coordination among various agencies of enforcement to deal with the situation,” said Mishra.

Home secretary Vipin Saxena said that PMLA is a response to the vast illegal money transacted during post economic liberalization. There is a need to address the problem from the angles of prevention, prosecution and confiscation of the property of the offender and return of money to the depositors.

The Director of Enforcement Dr Kotach said that the rate of prosecution is increasing day by day and there is need for more skilled and experienced manpower for enforcement activities

The officials from Odisha Police, NARCOTICS Control Bureau, Excise and Customs along with other enforcement agencies participated in the deliberations.