The Enforcement Directorate (ED) has executed nearly 90% of international assistance requests received since April 2024. This was announced by ED Director Rahul Navin at the 11th Annual General Meeting of the Asset Recovery Interagency Network-Asia Pacific (ARIN-AP) in New Delhi. The high execution rate reflects the agency's increasing engagement with foreign counterparts in cases involving assets linked to criminal activities located outside India.
The ED Director highlighted the growing role of cross-border cooperation in investigations involving proceeds of crime. He noted that the Prevention of Money Laundering Act, 2002 enables India to seek the restraint and confiscation of assets located abroad and to proceed against property of equivalent value. This ensures that the movement of funds offshore does not defeat recovery.
The ED has contributed to the development of the Asset Recovery Guidance and Best Practices of the Financial Action Task Force (FATF). The Director also emphasized the agency's engagement in the GlobE Network and anti-corruption working groups of the G20 and BRICS. These efforts aim to strengthen international cooperation in asset recovery.
The ARIN-AP meeting brings together representatives of member countries and agencies to discuss mechanisms for strengthening cooperation and improving the recovery of illicit assets. The network serves as a platform for informal cooperation and exchange of information among asset-recovery practitioners in the Asia-Pacific region. The four-day meeting is expected to provide an opportunity for participating agencies to discuss challenges in asset tracing, freezing, confiscation, and repatriation.
ARIN-AP is an informal network of law enforcement and judicial contact points engaged in recovering the proceeds of crime in the Asia-Pacific region. Launched in Korea in November 2013, it seeks to improve the effectiveness of members' efforts to deprive criminals of illicit profits. The Network has 32 member jurisdictions and 10 observers, including INTERPOL, UNODC, the World Bank, and sister asset recovery networks from other regions.
The 11th AGM is the first to be hosted by India, which was inducted into the ARIN-AP Steering Group in 2024. India has earned a standing in the global asset recovery community, and the Directorate of Enforcement's growing contribution to international standard-setting. The ED is India's nodal agency for ARIN-AP.
The ED Director set out two priorities for the Network under India's Presidency: speed of response to requests and completion of cases. He proposed tracking the number of cases in which assets were confiscated and returned following cooperation through ARIN-AP. The Director urged members to reflect on the reasons for the low proportion of proceeds of crime ultimately confiscated, despite the commitment of practitioners.
Key points
- The ED has executed nearly 90% of international assistance requests received since April 2024.
- The ED Director emphasized the importance of cross-border cooperation in investigations involving proceeds of crime.
- The ARIN-AP meeting aims to strengthen cooperation and improve the recovery of illicit assets among member countries and agencies.
