Saarthak Mongia & Palak Chhabra, School of law, Manipal University Jaipur
Abstract
The Prevention of Money Laundering Act, 2002 gives sweeping powers to the Directorate of Enforcement for giving effect to laws related to the detection and prevention of money laundering, which is a major economic crime throughout the world. It is an economic intelligence agency tasked with the enforcement of mainly two laws: the Foreign Exchange Management Act, 1999 and the Prevention of Money Laundering Act, 2002. The current work deals with the powers of the Directorate of Enforcement under the Prevention of Money Laundering Act and seeks to analyse the provisions of the Act as amended by the Finance (No.2) Act of 2019, in light of various judgments and provisions of the constitution. Subsequently, the author provides some suggestions followed by a conclusion.
