CJI Surya Kant Says World Launders Enough Money To Buy Every Person A Laptop
· India · Hindustan Times, Indian Express
Chief Justice of India Surya Kant told the 43rd International Symposium on Economic Crime at Cambridge on Saturday that the world launders enough money in a single year to buy each of its eight billion inhabitants a modest laptop and still have funds left over. Kant said less than one per cent of illicit wealth is ever recovered, with "ninety-nine parts" of every hundred only referenced in speeches and reports. He called for a shift from rhetoric to "institutionalised interdiction" focused on asset recovery and victim relief, stressing that economic crime is about "taking the profit out of crime". Kant invoked the legal maxims fraus omnia corrumpit and nemo debet locupletari ex aliena jactura. On India's framework, he pointed to the Prevention of Money Laundering Act, 2002, and the Fugitive Economic Offenders Act, 2018, and said cross-border recovery through mutual legal assistance treaties has proven more dependable than extradition.
Why it matters
The CJI's remarks at a global forum put India's anti-money-laundering framework on the international stage and reinforce the push for cross-border asset recovery, which matters for Indian agencies pursuing illicit funds stashed abroad and for victims seeking restitution.
Read the original report — Hindustan Times
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