New Delhi: The Central government on Wednesday sanctioned more than 1,200 additional investigators and staff for the Enforcement Directorate (ED), marking the first major restructuring of the anti-money laundering agency in 15 years which is aimed at enhancing its operational capacity.
The Finance Ministry authorised the workforce to grow from 2,029 to 3,256, strengthening the core investigation team.
The increase includes 803 Assistant Enforcement Officers, 606 Enforcement Officers, and 531 Assistant Directors of Enforcement, as per a notification.
This restructuring aims to strengthen the Directorate’s implementation of laws such as the Prevention of Money Laundering Act and the Fugitive Economic Offenders Act.
The restructuring will improve the Directorate’s enforcement of laws like the Prevention of Money Laundering Act and the Fugitive Economic Offenders Act.
The 70-year-old agency implements the criminal provisions of two stringent laws — the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA), in addition to the civil sections of the Foreign Exchange Management Act (FEMA).
The origin of ED goes back to May 1, 1956, when an ‘Enforcement Unit’ was formed in the Department of Economic Affairs for handling Exchange Control Laws violations under Foreign Exchange Regulation Act, 1947.
This Unit with Delhi as Headquarters was headed by a Legal Service Officer, as Director of Enforcement, assisted by an Officer drawn on deputation from Reserve Bank of India (RBI) and 3 Inspectors of Special Police Establishment. There were 2 branches – at Bombay (now Mumbai) and Calcutta (Now Kolkata).
In 1957, this Unit was renamed as ‘Enforcement Directorate’, and another branch was opened at Madras (now Chennai).
In 1960, the administrative control of the Directorate was transferred from the Department of Economic Affairs to the Department of Revenue.
(IANS)
