A workshop on ‘Prevention of Money laundering Act (PMlA)-2002’ was held here on Tuesday under the chairmanship of Director of Enforcement Dr Ranjan Kotach with the support of the Enforcement Directorate, Bhubaneswar.
Chief guest, Chief Secretary Jugal Kishore Mohapatra said economic offences play havoc in the life of common man. With financial globalisation, the trail of money in global economic market has become very difficult, and, it needs highly sophisticated technology to track the offenders. Coordinated efforts among various enforcement mechanisms are highly necessary for tracking, prosecution and confiscation of the properties of the offenders. He added, “We have to sanitise people about the dangers involved in fictitious investments which promise very high returns.”
Guest of honour DGP Prakash Mishra said the type and nature of economic crimes have exceeded the conventional crimes. Enhancement of the service sector in economy has brought economic offences to focus. The volume of scams, money laundering, chit funds and land scams, etc., have gone to such an extent that one agency would not be able to contain it. There has to be seamless coordination among various agencies of enforcement to deal with the situation, Mishra said.
Home Secretary Vipin Saxena said. “The PMlA is a response to the vast illegal money transacted during post economic liberalisation, and, now we have to address the problem from the angles of prevention, prosecution, confiscation of the property of the offender and return of money to the depositors.
Director of Enforcement Dr Kotach said the rate of prosecution is increasing everyday and there is a need for more skilled and experienced manpower for enforcement activities. “We look forward for up-scaling our activities in Bhubaneswar in coming days,” he said.
Joint Director of Enforcement Himansu lal made a presentation of various dimensions of the PMlA-2002 followed by another presentation regarding case example of PMlA investigation made by Special Director of Enforcement Yogesh Gupta. Officials from the Odisha Police, Narcotics Control Bureau, Excise and Customs along with other enforcement agencies participated in deliberations.