Asset recovery: Enforcement Directorate reports USD 25 billion frozen ahead of BRICS network meet

The Enforcement Directorate director Rahul Navin says the agency has frozen and attached about USD 25 billion in assets and restored USD 6.6 billion to victims. Speaking at the BRICS Expert Network on Asset Recovery meeting on 2 June, he highlighted cross-border money laundering risks and India’s PMLA enforcement record.

The Enforcement Directorate said it has attached and frozen assets worth about USD 25 billion, or about Rs 2.39 lakh crore. ED Director Rahul Navin also said the agency restored properties worth USD 6.6 billion, or over Rs 63,000 crore. The restored assets went to victims and other legitimate claimants in financial fraud cases.

Rahul Navin shared these figures at the inaugural meeting of the BRICS Expert Network on Asset Recovery on June 2. The meeting formed part of India’s presidency of the BRICS during 2026. An ED statement issued on Thursday said the session focused on cooperation among member countries on tracing and returning crime-linked assets.

BRICS asset recovery talks highlight ED action under PMLA

According to the statement, participants discussed common problems faced by BRICS members. The agenda included proposals for future work and a standard format for informal information exchange. The group also spoke about knowledge sharing and capacity building. The members broadly agreed that India will organise a physical meeting in the near future.

Navin said asset recovery is a key part of present-day action against corruption and financial crime. Navin pointed to cross-border money laundering and layered corporate structures. Navin said such methods divert public resources meant for social welfare and infrastructure projects. The statement linked these risks to the need for quicker asset tracing.

Navin referred to India’s enforcement record under the Prevention of Money Laundering Act (PMLA), 2002. The statement said the ED secured assets worth about USD 25 billion through attachment and freezing steps. It also said ED restitution efforts returned assets worth USD 6.6 billion. The statement described these measures as tools available under the PMLA.

BRICS asset recovery plans stress FATF guidance and cooperation

The ED director called for closer alignment with FATF guidance to give priority to asset recovery. The statement also said Navin urged stronger inter-agency cooperation across countries. It noted that the Financial Action Task Force is a global body. FATF sets standards for anti-money laundering and countering terror financing.

Navin said offenders increasingly try to keep assets beyond local reach and across borders. The statement said Navin stressed that crime should not pay the criminals. It added that countries must work together so assets are traced in time. Navin warned that delays can allow dissipation of assets.

The statement placed the meeting within the wider BRICS grouping and its growth. BRICS began with Brazil, Russia, India, China and South Africa. The bloc expanded in 2024 to include Egypt, Ethiopia, Iran, and the UAE. Indonesia joined in 2025, taking the group to 11 members.

BRICS has been described as an influential group of emerging economies. It brings together 11 major emerging economies, the statement said. The bloc represents around 49.5 per cent of the global population. It also accounts for around 40 per cent of global GDP and around 26 per cent of global trade.

With inputs from PTI