Enforcement Directorate
Context:
- Enforcement Directorate (ED) has provisionally attached worth over ₹200 crore in various places across Tamil Nadu in connection with a case of financial fraud committed by the Neomax group of companies.
About ED:
- The Directorate of Enforcement(ED) is a domestic law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
- It works under the Department of Revenue, Ministry of Finance, Government of India.
- The Enforcement Directorate focuses on investigating and prosecuting cases related to money laundering foreign exchange violations, and economic offenses.
- Its primary objective is to curb the generation and circulation of black money and to ensure compliance with the laws concerning foreign exchange and prevention of money laundering.
- The prime objective of the Enforcement Directorateis the enforcement of key Acts of the Government of India namely, the Foreign Exchange Management Act, 1999 (FEMA) and the Prevention of Money Laundring Act, 2002 (PMLA), and The Fugitive Economic Offenders Act, 2018 (FEOA).
- The Directorate of Enforcement, with its headquarters at New Delhi, is headed by the director of enforcement.
- There are five regional offices at Mumbai, Chennai, Chandigarh, Kolkata, and Delhi headed by special directors of enforcement.
Syllabus: Prelims
