Millennium Post

Police probed 1k cases related to financial frauds in 2018

Police probed 1k cases related to financial frauds in 2018

New Delhi: The Economic Offences Wing (EOW) investigated 1,107 cases and handled as many as 3,591 complaints in 2018, revealed the Delhi Police data. The investigating agency arrested 144 persons involved in various financial frauds and white-collar crime last year.

According to police records, at present 869 cases are under investigation as well as 244 complaints are under enquiry at EOW. "EOW registered 272 cases during last year. Besides, 221 cases were transferred to EOW from other units during the year as against 83 such cases in 2017," Delhi Police Annual Report claimed. The crime includes bank frauds, builder related multi-victim cases, export-import fraud and multi-level marketing fraud.

Last year, the Delhi Police wing unearthed big multi-level marketing frauds and arrested two persons who had taken Rs 50 crore from the complainants on the assurance of handsome return against their investment which was not delivered.

Another major commercial space/shops fraud solved by EOW in which 114 investors duped of Rs 35 crore. The accused's company invited investment from the general public through advertisement offering high returns on booking of commercial project in Gurugram.

When asked about steps taken to curb cases of frauds and economic crime, Special Commissioner of Police (crime and EOW), Satish Golchha told Millennium Post that last year they organised seminars, workshops to aware people about the precautions. "We started giving advertisement to educate citizens. This year also we will spread awareness about economic crime and its preventions to citizens," said Special CP.

According to Delhi Police, economic crimes cover a wide range of offences from financial frauds committed by individuals, companies and organizations, property frauds, share market scams, job and investment rackets, housing and builders frauds, bank frauds, multi-level marketing schemes and the whole gamut of Intellectual Property Rights (IPR) violations. "All economic offences, one way to another, erode the public's confidence in the country and the nation," said Delhi Police.

Established as a section of Crime Branch in 1996, EOW has now emerged as a full-fledged specialized unit being headed by Special CP. It comprises six sections each of which is headed by ACP.

EOW created Specialized Training Unit (STU) for organizing training programmes. The unit was created after a need was felt for regular up-gradation of investigative skills and knowledge of the investigators. "Induction training courses were organized for officers who are freshly posted in EOW to reorient them towards the specific requirements in investigation of frauds and economic offences," police said.

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