Enforcement Directorate

Why in news?

The Enforcement Directorate, which has in the past few days carried out in fraudulent transactions cases , is grappling with a severe manpower crunch.

FACTS FOR PRELIMS

ED

The Economic Enforcement is economic intelligence and law enforcement agency responsible for enforcing economic laws and fighting economic crime in India.

It functions under the aegis of the Department of Revenue, Union Ministry of Finance.

It has a mandate to enforce two of most stringent laws in the country. They are Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA) to check black money and hawala trade.

Established: 1st June, 2000.

It comprises officers of the Indian Administrative Service (IAS), Indian Revenue Service (IRS) and Indian Police Service (IPS)

SOURCE – THE HINDU.