Context: Recently, the Enforcement Directorate (ED) has sought cooperation of Pune police in investigating the bitcoin fraud case handled by the latter’s cybercrime department.
About Enforcement Directorate 

• It was established in the year 1956 with its Headquarters at New Delhi.
• It is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act.
• Work relating to investigation and prosecution of cases under the PML has been entrusted to the Enforcement Directorate. 
• It is under the administrative control of the Department of Revenue for operational purposes; the policy aspects of the FEMA, its legislation and its amendments are within the purview of the Department of Economic Affairs. Policy issues pertaining to the PML Act, however, are the responsibility of the Department of Revenue. 
• Before FEMA became effective (1 June 2000), the Directorate enforced regulations under the Foreign Exchange Regulation Act, 1973.

Key Functions

• To collect, develop and disseminate intelligence relating to violations of FEMA, 1999, the intelligence inputs are received from various sources such as Central and State Intelligence agencies, complaints etc.
• To investigate suspected violations of the provisions of the FEMA, 1999 relating to activities such as “hawala” foreign exchange racketeering, non-realization of export proceeds, non-repatriation of foreign exchange and other forms of violations under FEMA, 1999.
• To adjudicate cases of violations of the erstwhile FERA, 1973 and FEMA, 1999.
• To realise penalties imposed on the conclusion of adjudication proceedings.
• To process and recommend cases for preventive detention under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA)
• To provide and seek mutual legal assistance to/from contracting states in respect of attachment/confiscation of proceeds of crime as well as in respect of transfer of accused persons under PMLA.

Powers of ED
Powers of the Officers

• They investigate money laundering cases, start property attachment procedures, and prosecute those who are found guilty.

Powers of Investigating Officers

• As a criminal action, they can attach any property or the value of any property purchased with laundered money, either directly or indirectly.
• They may search and examine the area as well as the property’s records.
• They have the authority to arrest the accused, call witnesses, and record their statements.

Authority Powers: ED authorities may place identification markings on confiscated property or records.

• They may create an appropriate inventory and record the statements according to the requirement.

Officers’ Powers during the Search

• The officers have the authority to enter the accuser’s property, search, confiscate, or freeze the property, investigate connected persons, and so on.

Powers of Authorities during Summons

• The regional, zonal, or sub zonal directors have the authority to summon any person involved in a financial crime.
• These are deemed to be as judicial proceedings and are governed by Section 45 of the IPC.