Tag: fines
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India’s FIU fines Paytm Payments Bank
India’s Financial Intelligence Unit (FIU) has recently fined Paytm Payments Bank, one of the country’s leading digital payment platforms, for violating anti-money laundering regulations. The FIU found that Paytm Payments Bank had failed to conduct proper due diligence on certain account holders and had also not reported certain transactions that raised suspicions of money…
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California’s DFPI fines Credova $50K
California’s DFPI fines Credova $50,000 California’s Department of Financial Protection and Innovation (DFPI) has recently announced a fine of $50,000 on Credova, a leading financial technology company. The penalty has been imposed due to various violations related to consumer protection laws and regulations. Credova, headquartered in Boise, Idaho, operates as a digital lending platform primarily…
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Crypto and fintech groups faced unprecedented fines in 2023
Crypto and Fintech Groups Faced Unprecedented Fines in 2023 Published: November 5, 2023 Written by: John Doe The Rise of Crypto and Fintech Industry The year 2023 marked a significant turning point for the crypto and fintech industry. With digital currencies gaining widespread adoption and fintech companies revolutionizing financial services, their growth seemed unstoppable. However,…
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NAB receives USD 1.4 million fine for wrongfully charging fees
Published on: September 15th, 2023 Author: John Doe The National Australia Bank (NAB) has been hit with a hefty fine of USD 1.4 million by regulatory authorities for wrongfully charging fees to its customers. The fine comes as a result of an investigation conducted by the Australian Securities and Investments Commission (ASIC), which uncovered…