ED is an important investigative and economic intelligence agency in India. The full form of ED is the Enforcement Directorate. It functions under the Department of Revenue, Ministry of Finance. Let's learn more about the role and responsibilities of the Enforcement Directorate.
What is the Enforcement Directorate?
The Enforcement Directorate (ED) is an elite financial investigation agency that enforces economic laws and fights economic crimes in India.
It was established in 1956 to implement the Foreign Exchange Regulation Act (FERA). Today it enforces around 15 laws including FEMA, PMLA, Benami Transactions Act etc.
Key Functions and Powers of ED:Investigate serious financial crimes like money laundering, forex violations etc.Undertake search, seizure and arrest operations.Attach domestic and foreign assets involved in money laundering.Collect intelligence to combat economic offenses.Adjudicate PMLA and FEMA cases for penalties.Assist in confiscation of proceeds of crime.Collaborate with international agencies for information exchange.Organization Structure:
ED is headed by the Director who reports to the Revenue Secretary. Field offices are located across major cities and headed by Special Directors.
ED officers are recruited through the Union Public Service Commission civil service exams. They have police officer ranks and powers during investigations.
In summary, the Enforcement Directorate plays a pivotal role in safeguarding the economic and financial fabric of the nation. Its officers relentlessly pursue and clamp down on serious financial offenders.