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  9. Q5

HPSC HCS 2024 · Question 5 of 100

Consider the following statements regarding the Fugitive Economic Offenders Act: 1. A Fugitive Economic Offender (FEO) is a person who has fled the country and against whom an arrest warrant has been issued for involvement in economic offenses involving at least Rs. 100 crores. 2. Under the Act, authorities are empowered to confiscate assets even when no conviction has been obtained. 3. Financial Intelligence Unit is the nodal agency to implement the Act. How many of the statements given above are correct?

Economy

  1. A1 and 2 onlyCorrect
  2. B2 and 3 only
  3. C1 and 3 only
  4. DAll 1, 2 and 3

Answer: A. 1 and 2 only

Explanation

An FEO is one who has fled India with an arrest warrant in economic offences of at least Rs 100 crore, and assets can be confiscated without conviction. The nodal authority under the Act is the Director (Enforcement Directorate), not the Financial Intelligence Unit.

Source: HPSC HCS Prelims Paper-I held 11 Feb 2024 (freejobalert PDF)

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