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Over Rs 7,800 crore stash found
Highlights
The government detected a whopping over Rs7,800 crore of illegal monies within the country and abroad during 2013-14 as the elite Financial Intelligence Unit (FIU) found all-time high cases of suspicious transactions in the country’s economic channels. As per a latest report prepared by the finance ministry, the FIU’s action led to the “detection of unaccounted income of Rs7,078 crore by the I-T department while the Customs and Service Tax departments detected evasion of Rs 750 crore” during the said period.
The government detected a whopping over Rs7,800 crore of illegal monies within the country and abroad during 2013-14 as the elite Financial Intelligence Unit (FIU) found all-time high cases of suspicious transactions in the country’s economic channels. As per a latest report prepared by the finance ministry, the FIU’s action led to the “detection of unaccounted income of Rs7,078 crore by the I-T department while the Customs and Service Tax departments detected evasion of Rs 750 crore” during the said period.
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After the premier technical snoop wing under the finance ministry processed country-wide Suspicious Transaction Reports it obtained from various financial institutions, the report said, the Enforcement Directorate also “detected proceeds of crime to the tune of `20 crore and seized assets to the tune of Rs17 crore.”
The report, accessed by PTI, said as a result of this electronic intelligence generated by FIU, the “I-T department seized assets worth Rs163 crore and the Service Tax department sealed assets worth Rs17 crore during the same period.” Also, as part of the same action the ED registered 105 fresh criminal FIRs under the PMLA apart from its regular operations against money launderers in the said time period.
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