The Enforcement Directorate has filed an Enforcement Case Information Report (ECIR) against 16 cooperative banks and societies under the Prevention of Money Laundering Act.
Enforcement Case Information Report (ECIR)
- An ECIR is a formal document that records the complaint lodged by the Enforcement Directorate regarding a particular case.
- It serves several purposes, including: Identification of the case and facilitating departmental convenience.
- Initiating ED proceedings, which may involve the attachment of assets and arrests.
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Money laundering
- Money laundering is the process of making illegally obtained money (from crimes like corruption, drug trafficking, or fraud) appear legitimate by hiding its true origins.
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Key Features of ECIR
- Internal Document: The ECIR is an internal document meant for the Enforcement Directorate’s use.
- No Mention in PMLA Act: The ECIR is not mentioned in the Prevention of Money Laundering Act (PMLA) or its rules.
- Not Equivalent to an FIR: ECIR cannot be equated with a First Information Report (FIR), which is typically filed in criminal cases.
Disclosure of ECIR in Arrest Cases
- It is not mandatory for the Enforcement Directorate to provide a copy of the ECIR to the concerned individual in every case.
- However, the ED must disclose the grounds for arrest at the time of making an arrest, as per legal requirements.
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Enforcement Directorate
- The Enforcement Directorate (ED) is a law enforcement agency responsible for enforcing economic laws and fighting financial crimes.
- 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.
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