What is the Full form of ED?
The ED full form is the Enforcement Directorate. ED is an economic intelligence group that enforces economic laws and defends the nation against financial crimes. ED is subordinate to the Indian Government’s Department of Revenue, Ministry of Finance.
Read Other Full Forms
ED was established in 1956. The main office is located in New Delhi. Additionally, the ED has regional offices in Kolkata, Mumbai, Chandigarh, and Hyderabad, among others. It also maintains subzone offices in other cities. Officers from the Indian Revenue Service, the Indian Police Service, the Indian Corporate Law Service, and the Indian Administrative Service make up this organization.
Principal goals of ED
The primary objective of the ED is to enforce two major Indian government statutes, namely the FEMA 1999 (Foreign Exchange Management Act) and the PMLA 2002 (Money Laundering Prevention Act); the ED’s official website lists a number of other objectives that are directly related to combating money laundering in India.
It is an investigating body in particular, and the GOI prohibits the publication of all material to the public.
Operations of ED
- The intelligence reports come from many sources, such as the State and Intelligence departments, complaints, etc., in order to collect, establish, and disseminate information regarding 1999 FEMA violations.
- Examining alleged violations of the 1999 FEMA regulations, such as hawala foreign currency racketeering, non-realization of export revenues, and non-repatriation of international commerce proceeds, as well as other FEMA violations, 1999.
- Cases of past FERA 1973 and FEMA 1999 infractions are adjudicated.
- To administer the penalties imposed following the adjudication process.
- The administration of appeals, appeals, and judicial actions under the former FERA 1973.
- To conduct PMLA-related investigations, searches, inspections, convictions, and legal actions against suspects.
