CVC tells CBI to share details of frauds with Enforcement Directorate
The Central Bureau of Investigation has been asked by the CVC to share details on big ticket frauds with the Enforcement Directorate so that the provisions of anti-money laundering Act can be invoked at the stage of investigation itself. The Central Vigilance Commission (CVC) exercises superintendence over the working of CBI in corruption cases. The decision comes as there have been cases of corporate frauds involving crores of rupees. The CVC has asked CBI to share relevant details on big ticket frauds with the ED so that provisions of Prevention of Money Laundering Act can be invoked at the stage of investigation itself, officials said on Thursday. They said it will help in taking stringent action against the fraudsters during the investigation stage itself. There has been cases where ED is roped in at later stage by the CBI and at times, resulting in losing out leads and delay in punishing the accused.