2021 · Q72
Which one of the following is not correct in respect of Enforcement?
General KnowledgeStatic General Awareness
- AIt is a specialized financial investigation agency under the Department of Revenue, Ministry of Finance.
- BIt enforces the Foreign Exchange Management Act, 1999.
- CIt enforces the Prevention of Money Laundering Act, 2022.
- DIt enforces the Prohibition of Benami Property Transaction Act, 1988.
Explanation
The Enforcement Directorate is a law-enforcement and economic-intelligence agency under the Department of Revenue, Ministry of Finance, charged with enforcing the Foreign Exchange Management Act 1999, the Prevention of Money Laundering Act 2002 and the Fugitive Economic Offenders Act 2018. It does not administer the Prohibition of Benami Property Transactions Act 1988, whose initiating and adjudicating authorities sit under the Income-tax Department - making that statement the not-correct one.