The Enforcement Directorate has identified eight focus areas for coordinated action, including tracking of foreign assets, misuse of the Insolvency and Bankruptcy Code, trade-based money laundering, cyber fraud, illegal online gambling, drug financing, share market manipulation, and foreign interference through illicit funding.
The decision was taken during its 34th quarterly conference of zonal officers in Guwahati from February 19 to 21, headed by ED Director Rahul Navin.
All zonal heads were directed to intensify efforts in tracing and securing proceeds of crime parked abroad, particularly in jurisdictions such as Dubai and Singapore. They were also told to keep a close watch on professional money laundering channels disguised as trade. “Instances of potential collusion between corporate debtors, resolution professionals, members of the Committee of Creditors, and other stakeholders were flagged as areas requiring scrutiny,” said the agency with respect to IBC-related cases.
Given the rise in digital-arrest scams and other forms of cyber fraud, the ED chief asked officials to crack down on organised syndicates and identify cross-border elements. In cases involving illegal betting and online gaming platforms, they were advised to focus on dismantling the linked financial networks, including payment gateways, mule accounts and offshore operators.
