Fugitive Economic Offenders Act was brought to address the cases of high value economic offenders fleeing the country to avoid persecution.
Key Features
Definition of Fugitive Economic Offenders (FEO): An FEO is a person against whom an arrest warrant has been issued for committing any offence listed in the Schedule of the Act (of 55 offences), and the value of the offence is at least Rs 100 crore. Further, the person has left the country and refuses to return, in order to avoid facing prosecution.
Authorities: The authorities under the PMLA, 2002 will exercise powers given to them under the ....
