ED unaware of financial frauds in the state

KOCHI: The Enforcement Directorate (ED) in the country has so far registered as many as 1,300 cases in connection with financial frauds including terror funding.The cases increased after India formulated laws to check money laundering in accordance to the Financial Action Task Force (FATF) standards, Arun Mathur, Director, ED said. Asked whether the recent major financial frauds in Kerala like Total4U and Nano Excel have come to the notice of the ED, Mathur said they have not received any specific information in this regard.“We would be looking into it if we come across anything like that. However, we have not received any specific information in this regard,” he said.He further pointed out that ED can take cases in financial frauds only after police registers a case.The APG had pointed out that financial transactions through trusts and societies as a high-risk area.India was not able to produce a centralised data bank of transactions made by such non-profit organisations during its evaluation process.