New Delhi Nov 10: The Enforcement Directorate (ED) on Thursday said that it has attached black money to the tune of Rs 9,000 crore post demonetisation and also registered over 3,500 cases under FEMA and money laundering charges.
The ED in a statement has said "between November 2016 and September 2017, the ED has conducted raids at over 266 places in cases related to the Foreign Exchange Money Act (FEMA) and at 354 places in cases under the Prevention of Money Laundering Act (PMLA)."
The agency also said that "it has registered over 3,567 cases under FEMA and 191 cases under PMLA in the last one year.In the last one year also issued over 700 show cause notices and arrested 54 people."
The financial probe agency has said that "it is worth mentioning that even in real estate sector the money for investments has been coming through financial institutions using a maze of shell companies. Therefore shell companies are major modus operandi through which money is laundered."