Explanation:

At present, the Directorate of Enforcement enforces two laws, viz., the Foreign Exchange Management Act, 1999 (FEMA) and the Prevention of Money Laundering Act, 2002 (PMLA) apart from looking after the residual work initiated under FERA. It will also be the implementation authority for recently passed Fugitive economic offenders Act, 2018. The Act seeks to confiscate properties and assets of economic offenders that evade prosecution by remaining outside the jurisdiction of Indian courts. Economic offences with a value of more than Rs 100 crores, which are listed in the schedule of the Fugitive Economic Offenders Act, come under the purview of this law. As per the Act, a court (‘Special Court’ under the Prevention of Money Laundering Act, 2002) has to declare a person as a Fugitive Economic Offender.