About ED

• Enforcement Directorate (ED) is a specialized financial investigation agency under the Department of Revenue, Ministry of Finance, which enforces the following laws: –
  • Foreign Exchange Management Act,1999 (FEMA) – A Civil Law, with officers empowered to conduct investigations into suspected contraventions of the Foreign Exchange Laws and Regulations, adjudicate, contraventions, and impose penalties on those adjudged to have contravened the law.
  • Prevention of Money Laundering Act, 2002 (PMLA) – A Criminal Law, with the officers empowered to conduct investigations to trace assets derived out of the proceeds of crime, to provisionally attach/ confiscate the same, and to arrest and prosecute the offenders found to be involved in Money Laundering. 

• ED was established in 1956 with its headquarters at New Delhi.

Why in News?

• The Centre has cleared several key appointments in the Enforcement Directorate.

Reference:

1. https://www.thehindu.com/news/national/central-nod-for-several-key-appointments-in-ed/article33006287.ece