The Enforcement Directorate registered 1,080 cases under the Prevention of Money Laundering Act in the financial year 2025-26, marking a four-year high. The figure brings the total number of PMLA cases filed by the agency over the past five years to 4,622. While the volume of investigations has risen again after a mid-period decline, the number of convictions secured during the same five-year span stands at only 43, involving 104 accused persons. The data, placed before Parliament, highlights both the expanding enforcement activity and the persistent lag between case registration and final judicial outcomes.
The Rise in Case Registrations
According to official figures, the ED recorded 1,116 PMLA cases in 2021-22. The number then fell to 953 in 2022-23 and further to 698 in 2023-24. Registrations began climbing again in 2024-25 with 775 cases and reached 1,080 in 2025-26. The latest total is the highest in four years and reflects a renewed intensification of money-laundering probes.
The Prevention of Money Laundering Act empowers the ED to investigate the proceeds of crime linked to a wide range of scheduled offences. Case registration typically follows the detection of a predicate offence by other agencies or the emergence of financial trails that suggest laundering. The recent uptick suggests either an increase in detected financial irregularities, greater inter-agency coordination, or a deliberate policy emphasis on pursuing such cases more aggressively.
The Conviction Picture
Despite the substantial number of cases registered, convictions have remained limited. Over the five years from 2021-22 to 2025-26, special courts delivered convictions in 43 PMLA cases. The year-wise breakdown shows three convictions in 2021-22, nine in 2022-23, 13 in 2023-24, nine in 2024-25 and nine again in 2025-26. In these 43 cases, 104 individuals were convicted.
When measured against the total cases registered in the same period, the conviction figure represents a very small proportion. This gap between registration and conviction is not unique to the ED, but it remains a point of public and parliamentary scrutiny. Complex money-laundering investigations often involve layered financial transactions, multiple jurisdictions, voluminous documentary evidence and prolonged trials. These factors contribute to the time required for cases to reach final judgment.
Understanding the Numbers in Context
It is important to distinguish between overall case volume and the conviction rate calculated only on cases that have been decided on merits. Separate data released by the agency and the government in other parliamentary replies have shown that when cases proceed to judgment, the proportion ending in conviction is significantly higher, often cited in the range of 90 per cent or above. The low absolute number of convictions relative to registrations therefore reflects, in large part, the long pipeline of pending investigations and trials rather than a high rate of acquittal in concluded matters.
Nevertheless, the absolute figures matter for public perception and for the deterrent effect of the law. A large number of registered cases that remain pending for years can create uncertainty for those under investigation while also delaying the recovery or confiscation of proceeds of crime.
Factors Behind the Pace of Outcomes
Money-laundering cases are inherently intricate. They require tracing funds through multiple accounts, corporate entities and sometimes international channels. Coordination with other domestic agencies and foreign counterparts adds further layers. Once a prosecution complaint is filed, trials before special courts can extend over several years because of the volume of evidence, the number of accused and procedural requirements.
Recent years have also seen the ED report efforts to reduce pendency through internal process improvements, greater use of technology and a focus on completing investigations more efficiently. Attachments of properties and filing of prosecution complaints have continued alongside the rise in new registrations. Still, converting a higher volume of investigations into timely convictions remains a structural challenge.
Broader Implications for Enforcement
The increase in PMLA case registrations signals sustained institutional focus on financial crime. Money laundering undermines the integrity of the financial system, facilitates other forms of criminality and deprives the state and legitimate claimants of resources. Effective enforcement requires both the capacity to detect and investigate and the ability to secure judicial outcomes within a reasonable timeframe.
At the same time, the disparity between cases filed and convictions obtained raises questions about resource allocation, investigative quality, prosecutorial readiness and judicial capacity. Balancing thoroughness with speed is essential if the law is to serve both as a tool of accountability and as a credible deterrent.
The Road Ahead
The data for 2025-26 show that the Enforcement Directorate has returned to a high level of case registration under the PMLA. Whether this intensified activity translates into a corresponding rise in completed trials and convictions will depend on continued improvements in investigation timelines, evidence management and court processes. Parliament’s examination of these figures keeps the issue of enforcement effectiveness under public view.
For the financial system and for public confidence, the ultimate measure of success lies not only in the number of cases initiated but in the ability to bring those cases to a fair and timely conclusion. The latest statistics illustrate progress in the first stage of that process and the continuing need for stronger performance in the stages that follow.
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