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Basically, the Directorate performs the following functions: (1) Foreign Exchange Management Act, 1999 (FEMA) - This Act came into effect on 1-6-2000. Violations of its provisions are investigated and dealt with by the designated authorities of the Enforcement Directorate. Under this, financial penalty of up to three times the amount of involvement can be imposed on the concerned person / firm / unit in the event of a violation during the quasi judicial investigation process. (2) 'Prevention of Money Laundering Act, 2002 (PMLA) - Under this Act, the process of investigation is done like other criminal laws. During or after the investigation, if it is found that the property / entity collected by the concerned person has been acquired or created as a result of the offenses committed under 156 sections of 28 laws notified in the PMLA and then laundering (laundering) ) Has been done, in which case such property can be confiscated intermittently, and finally such property is also attached on completion of proper criminal judicial process (litigation). (3) In cases in which show cause notices (SCNs) relating to violation of the provisions of FERA 1973 were issued by 31-05-2002, the officers of the Directorate, after quasi-judicial process, take appropriate decisions, and If the violation is found to be appropriate, then a reasonable fine may be imposed. In similar cases, in which the criminal case was filed in the court till 31-05-2002, the court makes judicial decisions. (E) Violation of FEMA in relation to matters delegated to the Foreign Exchange Protection and Prevention of Smuggling Activities Act, 1974 (COFEPOSA). (5) To provide support to other countries in relation to money laundering and asset assimilation under the provisions of PMLA and to seek cooperation on these issues.
