SOURCE OF INFORMATION : MINISTRY OF FINANCE - FINANCIAL INTELLIGENCE UNIT
PERIOD COVERED : 14-FEB-2013 TO 31-OCT-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes

COMPANIES: IMPOSED FINE

S.No.

ENTITY

DIRECTORS/ PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

CORPORATION BANK

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.1,00,000

23-JUL-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

DAIMLER FINANCIAL SERVICES INDIA PVT.LTD.

DID NOT IMPLEMENT EFFECTIVE TRANSACTION MONITORING AND REPORTING SYSTEM TO ALERT GENERATION, UCIC ALLOTMENT AND AUTHENTICATION OF KYC DOCUMENTS

IMPOSED FINE RS.1,00,000

WARNED & CAUTIONS TO EXERCISE IN FUTURE RS.1,00,000

31-OCT-2022

DENA BANK

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.1,00,000

04-SEP-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

DEVELOPMENT CREDIT BANK LTD.

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.1,00,000

07-AUG-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

DHANALAKSHMI BANK LTD.,THE

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.1,00,000

06-AUG-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

DHULE & NANDURBAR JILHA SARKARI NOKARANCHI SAHAKARI BANK LTD.

DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS

IMPOSED FINE RS.1,00,000

19-SEP-2023

DR.PANJABRAO DESHMUKH URBAN CO-OPERATIVE BANK LTD.

DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT CASH TRANSACTIONS

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS

IMPOSED FINE RS.10,25,000

31-OCT-2022

ELITE WEALTH ADVISORS LTD.

DID NOT PROPERLY RAISE ALERTS AND CONSIDER ADVERSE ORDERS OF SEBI FROM THE PERSPECTIVE OF AML TRANSACTIONAL MONITORING AND REPORTING OBLIGATIONS

DID NOT REPORT ENTITY TO PROPERLY INVESTIGATE AND REVIEW THE SAME ALERTS

IMPOSED FINE RS.1,00,000

DIRECTED TO FILE CERTIFICATION UNDER SIGNATURE OF DESIGNATED DIRECTOR AND PRINCIPAL OFFICER THAT DIRECTED MEASURES WOULD BE IMPLEMENTED WITHIN THE PERIOD PRESCRIBED RS.1,00,000

27-FEB-2023

FEDERAL BANK LTD.,THE

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.2,00,000

28-AUG-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

FINO PAYMENTS BANK LTD.

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS

DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)

IMPOSED FINE RS.5,00,000

25-JAN-2024

GANDHIDHAM CO-OPERATIVE BANK LTD.,THE

DID NOT FILE NTRS VIOLATING RULE 3(1)(BA) OF PML (MAINTENANCE OF RECORDS) RULES, 2005

DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT TO DIRECTOR

DID NOT INFORM FIU-IND OF TRANSACTIONS IN NATURE OF RECEIPTS OF VALUE OF MORE THAN RS.10 LACS OR ITS EQUIVALENT BY NON PROFIT ORGANISATIONS VIOLATING SECTION 12 OF PML ACT, 2002 READ WITH RULES 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005

IMPOSED FINE RS.5,50,000

27-OCT-2020

GODAVARI URBAN CO-OPERATIVE BANK LTD.

DID NOT FILE CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005

DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005

DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005

IMPOSED FINE RS.2,50,000

06-APR-2021

GUJARAT OLEO CHEM LTD.

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.2,00,000

19-OCT-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

HARIHARESHWAR SAHAKARI BANK LTD.

DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS)

IMPOSED FINE RS.1,80,000

11-JAN-2022

HCL CORP.PVT.LTD.

DID NOT CARRY OUT RISK ASSESSMENT TO CATEGORIZE CUSTOMERS INTO HIGH, MEDIUM AND LOW CATEGORY AND TO CONDUCT PERIODIC REVIEW VIOLATING PML (MAINTENANCE OF RECORDS) RULES, 2005

IMPOSED FINE RS.1,00,000

04-MAR-2021

HDFC BANK LTD.

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.26,00,000

15-JAN-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

HONGKONG & SHANGHAI BANKING CORP.LTD.,THE

IMPROPERLY CLOSED THE ALERTS GENERATED IN THE ACCOUNTS OF THE RESPECTIVE ENTITIES

MISREPORTED FIGURES IN RELATION TO CERTAIN CROSS BORDER WIRE TRANSFER REPORTS (CBWTRS) WITH FIU-IND

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS

DID NOT FORMULATE AND IMPLEMENT ENHANCED DUE DILIGENCE MEASURES TO VERIFY THE CLIENTS IDENTITY TAKING INTO CONSIDERATION TYPE OF CLIENT, BUSINESS RELATIONSHIP, NATURE AND VALUE OF TRANSACTIONS BASED ON THE OVERALL MONEY LAUNDERING AND TERRORIST FINANCING RISKS INVOLVED

DID NOT EXERCISE ONGOING DUE DILIGENCE MEASURES IN RELATION TO CERTAIN ACCOUNTS BELONGING TO CONCERNED ENTITIES WITH PARTICULAR REFERENCE TO BUSINESS RELATIONSHIP WITH CONCERNED ENTITY

IMPOSED FINE RS.2,06,75,000

31-OCT-2022

ICICI BANK LTD.

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.14,00,000

20-FEB-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

INDIAN BANK

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.1,00,000

03-SEP-2015

NOT APPEARING IN THE LIST DATED 30-JUN-2018

INDIAN OVERSEAS BANK

DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS

IMPOSED FINE RS.2,00,000

01-OCT-2015