Money laundering arising out of illegal narco trade, now ED forms STF

In a major step, a Special Task Force (STF) has been constituted in the Enforcement Directorate to speed up investigations of money laundering cases from illegal narco trade.

It need be mentioned that ED is the central agency that enforces the PMLA and FEMA laws in the country.

It is said that ED Director Sanjay Kumar Mishra has ordered for the creation of the first-ever STF in the agency and it will be headed by a special director-rank officer based at its headquarters in Delhi.

The STF team will comprise of a joint director, deputy directors and others as part of the new setup.

The force will specifically look into past and probable cases of illegal narcotics trade, drug crime syndicates and hawala transactions that have national and international links and such instances will be dealt under the Prevention of Money Laundering Act (PMLA), they said.

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