Financial Scams

FUGITIVE ECONOMIC OFFENDERS ACT,2018

The Fugitive Economic Offenders Act, 2018 empowers India to act against high-value financial offenders who flee abroad by enabling courts to declare them fugitives and confiscate their properties—even in their absence. It strengthens asset recovery, deters flight risk behaviour and supports extradition efforts in major scams such as those involving Vijay Mallya and Nirav Modi. However, its effectiveness is hindered by slow extradition processes, overseas asset tracing challenges and coordination issues among agencies. With stronger global cooperation, better intelligence systems and fast-track courts, the Act can further enhance India’s fight against economic crime and reinforce financial accountability.