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banking service chronicle Clarification on terms Such as definition of proceeds of crime and the safeguards to be followed when statements are recorded by investigating officers is needed.  Review Scheduled offences as the inclusion of scheduled offences from 30 different legislations has made the ambit of the law too wide thus diluting the focus of the ED from investigating serious offences. About Enforcement Directorate (ED) banking service chronicle magazine It is a financial investigation agency under Department of Revenue Ministry of Finance.  It was established in 1956 with its Headquarters at New Delhi.  It is responsible for enforcement of Foreign Exchange Management Act 1999 (FEMA) and certain provisions under PMLA 2002.  FEMA is a civil law while PMLA is criminal law.  In 2021 Parliament has passed a bill to extend the tenure of director of ED to a maximum of 5 years. Recent amendments in PMLA banking service chronicle magazine subscription