Paytm Payments Bank Faces Rs. 5.49 Crore Penalty for Violations of Anti-Money Laundering Regulations
New Delhi: The Financial Intelligence Unit-India (FIU-IND) has imposed a monetary penalty of Rs. 5,49,00,000 on Paytm Payments Bank Ltd for violations of its obligations under the Prevention of Money Laundering Act (PMLA), 2002. The penalty was imposed by the Director FIU-IND under Section 13(2)(d) of the PMLA. The enforcement action comes following a review…