Conviction rate under PMLA is 93%, says government

New Delhi: The rate of conviction obtained in money laundering cases by the the Enforcement Directorate is 93 per cent, the government informed Parliament on Tuesday.

A total of 7,083 ECIRs or Enforcement Case Information Reports have been filed by the agency till July 31, minister of state for finance Pankaj Chaudhary said in a written reply to a question asked in the Rajya Sabha.

"The rate of conviction obtained under PMLA is around ninety-three per cent," he said.

PMLA stands for the Prevention of Money Laundering Act and it was enacted in 2002 and implemented from July 1, 2005.

The minister also said that assets worth more than Rs 1.39 lakh crore were either seized, frozen or attached under the law.

"The total value of proceeds seized under PMLA is approximately Rs 3,725.76 crore, frozen under PMLA is approximately Rs 4,651.68 crore and attached under PMLA is approximately Rs 1,31,375 crore," the minister said.