Tag: FIU
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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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PayPal registers with FIU under AML law
PayPal, one of the world’s largest online payment processors, has taken a significant step towards compliance with anti-money laundering (AML) regulations by registering with the Financial Intelligence Unit (FIU). Under the AML law, financial institutions and payment processors are required to implement strict measures to prevent money laundering and terrorist financing. By registering with the…