Mar 1, 02:02 PM

FIU-India Fines Paytm Bank Rs 5.49 Crore for Money Laundering Violations

The Financial Intelligence Unit-India (FIU-IND), under the finance ministry, has imposed a penalty of Rs 5,49,00,000 (approximately $662,000) on Paytm Payments Bank Ltd for violations of its obligations under the Prevention of Money Laundering Act (PMLA). The penalty comes as a result of a review initiated by FIU-IND upon receiving specific information from law enforcement agencies. This action highlights the government's ongoing efforts to clamp down on money laundering activities within the country.

#Paytm Payments Bank Ltd #PMLA

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