Saffron, a dried stigma derivative of Crocus sativus, is tremendously rich in phytochemicals like crocin and safranal. For a long time, the phytochemicals of saffronhave remained obscure, and thereby its role in disease treatment remained subsidiary. Of late, researchers have gained momentum in studying its bioactivity because of its numerous beneficial health aspects. The pharmacological activities such as antioxidant, anti-cancer, anti-diabetic, anti-inflammatory, and anti-atherosclerotic of crocin and safranal, have recently been a focus of many researchers. Considering market value and demand, saffron has become the center stage of adulteration and, subsequently, illegal trade. This has prompted researchers to develop advanced, cost-effective analytical tools for rapidly detecting possible adulteration common in illegal saffron trading. This review provides greater insight into methods and counters detection techniques in the adulteration of saffron worldwide. Moreover, this review gives a detailed account of the phytochemicals specific to saffron and their potential role in treatments of various diseases