THE ROLE OF THE ENFORCEMENT DIRECTORIATE IN COMBATING ECONOMIC CRIMES AND CORRUPTION IN INDIA

AUTHOR – K. M. SUPRIYA* & Ms. VAISHALI**, LLM SCHOLAR* & ASSISTANT PROFFESSOR** AT TAMIL NADU DR.AMBEDKAR LAW UNIVERSITY

BEST CITATION – K. M. SUPRIYA & Ms. VAISHALI, THE ROLE OF THE ENFORCEMENT DIRECTORIATE IN COMBATING ECONOMIC CRIMES AND CORRUPTION IN INDIA, ILE MULTIDISCIPLINARY JOURNAL, 3 (1) OF 2024, PG. 281-292, APIS – 3920-0007 | ISSN – 2583-7230.

ABSTRACT:

In order to preserve the integrity and stability of the country’s financial system, the Enforcement Directorate (ED) of India is essential in the fight against economic crimes and corruption. This paper delves into the multifaceted functions and jurisdiction of the ED, highlighting its significance in the investigation and prosecution of economic crimes. The ED operates under the aegis of the Department of Revenue, Ministry of Finance, and is mandated to enforce two primary legislations: the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA). The ED’s duties include looking into and prosecuting crimes including financial fraud, foreign exchange breaches, and money laundering. The directorate’s jurisdiction extends across the entire country, empowering it to take stringent actions against perpetrators of economic crimes. Furthermore, the ED collaborates with various national and international agencies to ensure comprehensive enforcement of laws against economic offenders. This paper aims to explore the challenges, and successes of the Enforcement Directorate in safeguarding India’s economic and financial ecosystem.