New Delhi, Aug 5 (NationPress) The Securities and Exchange Board of India (SEBI) has initiated action in 76 cases related to investment fraud from April 2020 to March 2025, revealing that offenders were directed to return Rs 949.43 crore in illegal earnings, as disclosed in Parliament on Tuesday.

The largest amount for disgorgement was recorded in FY 2021-2022, totaling Rs 359.96 crore, while Rs 180.48 crore was ordered for the fiscal year 2024-25, according to data presented by Pankaj Chaudhary, Minister of State for Finance, in the Rajya Sabha.

The Minister also highlighted that various Central government bodies, enforcement agencies, and regulatory organizations are actively working to identify, prevent, and address investment fraud.

Over the past five years, the Central Board of Direct Taxes (CBDT) has pinpointed nine cases primarily linked to multi-level marketing (MLM) scams. From January 1, 2020, to July 30, 2025, the Directorate of Enforcement has opened investigations into approximately 220 cases concerning money laundering offenses under the Prevention of Money Laundering Act, 2002 (PMLA), associated with investment frauds.

The minister also mentioned that crypto assets currently lack regulation in India. The Reserve Bank of India (RBI) operates the SACHET portal for complaints about unauthorized deposit-taking by unregistered or unincorporated entities. Between April 1, 2020, and March 31, 2025, roughly 3,454 complaints regarding ‘non-repayment of funds collected from various investment schemes’ were lodged, along with 1,531 complaints concerning ‘money collection through MLM, direct selling, and ponzi schemes’.

Additionally, the Minister stated that numerous initiatives and investor education campaigns are in progress to combat such fraud, including the Cyber Fraud Mitigation Centre (CFMC) and the ‘Suspect Registry’ at the Indian Cyber Crime Coordination Centre (I4C). Established by the Ministry of Home Affairs (MHA), this initiative collaborates with key financial entities, telecom providers, IT intermediaries, and law enforcement across states and Union Territories, forming a Senior Level Coordination Group (SLCG) to tackle cyber fraud issues.

The RBI has also issued the Reserve Bank of India (Digital Lending) Directions, 2025, to mitigate concerns regarding unethical practices by digital lending platforms and has provided guidance to banks for robust systems to identify cyber fraud and money mule operations.

To enhance public awareness of safe digital practices, the RBI runs various campaigns across TV, print, SMS, and digital platforms, such as the RBI Kehta Hai campaign and the BE(A)WARE booklet, aimed at educating consumers about different types of fraud and available redressal mechanisms.

Furthermore, in the financial year 2024-25, SEBI, in collaboration with the Association of Mutual Funds in India (AMFI) and Asset Management Companies (AMC), conducted investor awareness initiatives in 724 districts across 36 states and Union Territories, engaging nearly 32 lakh investors. SEBI has also introduced the Saa₹thi Mobile App, providing educational materials and investment guidance to safeguard investors.

Lastly, the SEBI runs the "SEBI vs SCAM" campaign, which perpetuates an ongoing awareness initiative regarding fraud through partnerships with Market Infrastructure Institutions (MIIs), utilizing TV, print, radio, and social media.