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In May, Binance had registered with the FIU as the exchange sought to resume operations, after the watchdog FIU issued show-cause notices to nine offshore exchanges operating in violation of rules. | Photo Credit: Reuters Financial Intelligence Unit (FIU) has imposed a fine of ₹18.82 crore ($2.25 million) on the crypto exchange Binance for operating…
The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture. | Photo Credit: FILE PHOTO “Extensive illegal activity” perpetrated by multiple businesses managed by “a syndicate of individuals connected to a foreign state” who cheated lakhs of Indians by offering “fraudulent services including prohibited gambling activities…
The Financial Intelligence Unit-India has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of the Prevention of Money Laundering Act (PMLA). | Photo Credit: GIRI KVS The Financial Intelligence Unit-India has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of the Prevention of Money Laundering…
Read More “FIU imposes ₹5.49 crore fine on Paytm Payments Bank for PMLA lapses” »
The Financial Intelligence Unit-India has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of the Prevention of Money Laundering Act (PMLA). | Photo Credit: GIRI KVS The Financial Intelligence Unit-India under the Union Finance Ministry has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of…
Paytm said its associate Paytm Payments Bank Limited does not undertake outward foreign remittances. | Photo Credit: Reuters “The Enforcement Directorate (ED) has questioned senior Paytm executives and taken submission of documents from them following the recent Reserve Bank of India (RBI) action of barring Paytm Payments Bank Limited from accepting deposits or top-ups in…
