If you are an Existing User, please enter your Username & Password below

Forgot Password?

Are you a New User? Click here to enrol

close

Click here to visit old website
Co-Sponsors

SOURCE OF INFORMATION : MINISTRY OF FINANCE - FINANCIAL INTELLIGENCE UNIT
PERIOD COVERED : 14-FEB-2013 TO 30-JUN-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: DID NOT EXERCISE DUE SKILL,CARE & DILIGENCE

S.No. ENTITY DIRECTORS/ PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person 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 		 
2
History of entity/person PAYTM PAYMENTS BANK LTD.  
  DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS REPORTS (STRS)

DID NOT FILE SUSPICIOUS TRANSACTION REPORTS IN RESPECT OF THIRTY FOUR BENEFICIARY ACCOUNTS IN THE MANNER AND WITHIN TIMELINES

DID NOT EXERCISE ONGOING DUE DILIGENCE WITH RESPECT TO PAYOUT SERVICE

DID NOT EXERCISE ONGOING DUE DILIGENCE WITH REFERENCE TO THE ACCOUNTS OF THIRTY FOUR BENEFICIARIES WHICH RECEIVED PROCEEDS FROM THE PAYOUT ACCOUNTS

DID NOT SATISFY THE REQUIREMENTS WITH RESPECT TO RELIANCE ON THIRD-PARTY KYC BY RELYING ON A NON-COMPLIANT/UNREGULATED ENTITY   		IMPOSED FINE RS.5,49,00,000

01-MAR-2024 		 
3
History of entity/person SHRI VINAYAK SAHAKARI BANK LTD.  
  DID NOT EXERCISE DUE DILIGENCE AT THE TIME OF OPENING LOCKER ACCOUNTS VIOLATING RULE 9(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005   IMPOSED FINE RS.1,00,000

03-MAR-2020 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

This website is not comprehensive and is being updated on a regular basis. Users are requested to carefully look at the formats and the information about the coverage period that appears on search results pages.

DISCLAIMER BY NSE

NSE is the co-sponsor of this website and supportive of the initiative taken for protection of interest of investors by Praxis Consulting & Information Services Pvt.Ltd. (PRAXIS), the creator of this website. However, NSE bear no responsibility for the views/information that is available on this website and as responsibility of the contents of this website solely rests with PRAXIS. NSE shall not be responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to or reliance on any information available on this website. Investors/visitors of this website are also advised to read through the other general disclaimer(s) and terms and conditions available on this website before using the website.

Site designed and maintained by watchoutinvestors.com
© PRIME DATABASE GROUP 2004-2024
No part of this site may be reproduced without the explicit permission of the owners.

top