| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ALLAHABAD BANK
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT SUSPICIOUS TRANSACTIONS VIOLATING SECTIONS 12(1)(A), B) AND 12(3) OF PMLA ACT, 2002 READ WITH RULES 2(1) (G), 3(I) (D), 4, 5 AND 7(3) PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT FULLY IMPLEMENT CLIENT DUE DILIGENCE PROGRAMME APPROVED BY BOARD OF THE BANK WITH REGARD TO SCREENING NAMES OF PROSPECTIVE CUSTOMER IN THE LATEST UNSC SANCTIONS LIST VIOLATING SECTION 12(1)(C) OF PMLA ACT, 2002 READ WITH RULES 9(12) AND 14(II) & (III) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT IDENTIFY AND VERIFY ULTIMATE BENEFICIAL OWNER FOR TRUST, LEGAL ENTITIES AND SIMILAR OTHER CUSTOMERS VIOLATING SECTIONS 12(1)(C) READ WITH RULE 9(1) (A) (1) AND SECTIONS 12(1)(D) OF PMLA ACT, 2002 READ WITH RULES 9(1) (A) (II) AND 9(3) PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.3,00,000
19-MAR-2019
|
|
| 2 |
|
|
ANDHRA BANK
|
|
|
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT ALL SUSPICIOUS TRANSACTIONS VIOLATING SECTIONS 12(1) (A) AND (B) OF PREVENTION OF MONEY LAUNDERING ACT,2002 READ WITH RULE 2(1) (G), 3(1) (D), 5 AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT FILE REPORTS OF SUSPICIOUS TRANSACTION WITH COMPLETE AND ACCURATE DETAILS AS REQUIRED VIDE FIU-IND LETTER DATED 12/12/2018 VIOLATING SECTIONS 12(1) (A) AND (B) OF PREVENTION OF MONEY LAUNDERING ACT,2002 READ WITH RULE 2(1) (G), 3(1) (D), 5 AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.14,00,000
22-MAY-2019
|
|
| 3 |
|
|
APPASAHEB BIRNALE SAHAKARI BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT FILE NPO SECTOR TRANSACTION REPORT (NTRS)
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
13-SEP-2023
|
|
| 4 |
|
|
AXIS BANK LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT ADDRESS ALERTS AND CLOSE THEM WITHIN REASONABLE PERIOD
DID NOT INVESTIGATE AND CLOSE ALERTS BASED ON APPLICATION OF MIND
DID NOT PROPERLY VERIFY THAT ACCUSED WAS AUTHORIZED TO ACT ON BEHALF OF NATIONAL SECURITY GUARD (NSG)
|
IMPOSED FINE RS.1,66,25,000
DIRECTED TO REVIEW ITS MECHANISM AND ENSURE THAT IMPROVEMENTS MADE TO ADDRESS THE OBSERVATION MADE IN SHOW CAUSE NOTICE
DIRECTED TO PROVIDE CERTIFICATION WITHIN NINETY DAYS UNDER SIGNATURE OF DESIGNATED DIRECTOR
DIRECTED TO PRIORITIZE PROMPT AND EFFICIENT RESPONSE TO REQUESTS FROM FIU-IND
DIRECTED TO ADVISE TO IMPLEMENT STRINGENT PROCEDURES FOR SCREENING OF EMPLOYEES AS MANDATE BY RBI MASTER DIRECTION OF “KNOW YOUR CLIENTS”
03-JUN-2024
|
|
| 5 |
|
|
BAJAJ FINANCE LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
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 CARRY OUT DETERMINATION OF ULTIMATE BENEFICIAL OWNERSHIP
DID NOT CARRY OUT KNOW YOUR CLIENTS (KYC) UPDATION BASED ON PERIODIC RISK ASSESSMENT
DID NOT CARRY OUT PRODUCT RISK ASSESSMENT AND TO PERFORM ENHANCED DUE DILIGENCE FOR CUSTOMERS
DID NOT FURNISH COMPLETE RESPONSE TO QUESTIONNAIRE FROM FIU-IND
|
IMPOSED FINE RS.3,00,000
WARNED/DIRECTED TO PAY DUE
28-MAR-2022
|
|
| 6 |
|
|
BALASORE URBAN CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT FOLLOW KYC GUIDELINES AND SUBMISSION OF REPORT IN PROCEDURE AND MANNER PRESCRIBED UNDER PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.25,000
DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF
09-FEB-2024
|
|
| 7 |
|
|
BANK OF BARODA
|
|
|
DELAY IN FILING OF SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
FILED IMPROPER SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DELAY IN FILING OF ELECTRONIC FUND TRANSFER (EFTS) REPORTS
DID NOT CARRY OUT EFFECTIVE CUSTOMER DUE DILIGENCE VIOLATING SUB RULES (4), (7), (12) AND 9 OF RULES
DID NOT FILE ELECTRONICS FUND TRANSFER (EFTS) REPORTS
|
IMPOSED FINE RS.9,00,00,000
27-MAR-2018
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 8 |
|
|
BONANZA PORTFOLIO LTD.
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT CARRY OUT ONGOING DUE DILIGENCE AND TO EXAMINE TRANSACTIONS TO ENSURE THAT THEY ARE CONSISTENT WITH THE KNOWLEDGE OF CLIENT, BUSINESS, RISK PROFILE AND SOURCE OF FUNDS
DID NOT CONDUCT CLIENT DUE DILIGENCE OF EXISTING CLIENTS BASED ON MATERIALITY AND RISK
DID NOT REPORT SUSPICIOUS TRANSACTIONS IN RESPECT OF ACCOUNT AND SEVERAL ALERTED TRANSACTIONS
DID NOT REVIEW DUE DILIGENCE MEASURES INCLUDING VERIFYING AGAIN IDENTIFY OF THE CLIENTS AND OBTAINING INFORMATION ON PURPOSE AND INTENDED NATURE OF BUSINESS RELATIONSHIP
DID NOT PROPERLY RAISE ALERTS AND CONSIDER ADVERSE ORDERS OF SEBI FROM THE PERSPECTIVE OF AML TRANSACTIONAL MONITORING AND REPORTING OBLIGATIONS
|
IMPOSED FINE RS.19,40,000
DIRECTED TO REVIEW AND REVISE POLICIES AND APPROACH REGARDING INCOME RANGES AND RELATED KYC INFORMATION OF CLIENTS
DIRECTED TO PUT IN PLACE SUITABLE POLICY AND MECHANISM TO ENSURE THAT ROBUST AND MEANINGFUL RISK ASSESSMENT OR RE-ASSESSMENT OF CUSTOMERS CONDUCTED SUBSEQUENT TO ORDER OF SEBI/LEAS/OTHER GOVERNMENT AGENCIES
DIRECTED TO CONDUCT RE-EXAMINATION OF SEBI ORDERS ISSUED IN CONNECTION WITH CLIENTS IN PAST THREE YEARS TO ENSURE THAT THEY WERE PROPERLY PROCESSED, UNDERLYING TRANSACTIONS AND CLIENTS WERE ASSESSED
DIRECTED TO CONDUCT AUDIT BY EXTERNAL AGENCY OF THE PROCESSES PUT IN PLACE BY REPORTING ENTITY TO RAISE/PROCESS/INVESTIGATE/CLOSE ALERTS
DIRECTED TO ENSURE AML STAFF ADEQUATELY TRAINED TO MONITOR FOR NEW AND EMERGING TYPES OF CRIME FROM THE PERSPECTIVE OF ‘PROCEEDS OF CRIME’ INCLUDING REFERENCE TO ORDERS/QUERIES/REPORTS RELATING TO REGULATORY AND LAW ENFORCEMENT ACTIONS FOR
31-DEC-2024
|
|
| 9 |
|
|
CHANDGAD URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTIONS REPORTS (CTRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
21-SEP-2023
|
|
| 10 |
|
|
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
|
|
| 11 |
|
|
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
|
|
| 12 |
|
|
ESAF FINANCIAL HOLDINGS PVT.LTD.
|
|
|
DID NOT APPOINT DESIGNATED DIRECTOR AND PRINCIPAL OFFICER AS REQUIRED UNDER RULE OF 7(1) PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT INFORM AND REGISTER ITSELF WITH CHANGE IN NAME OF THE COMPANY
|
DIRECTED TO PUT IN PLACE AND ADOPT SUITABLE AML/CFT POLICY AS WELL AS ROBUST MECHANISM FOR RISK ASSESSMENT WITH REGARD TO AML/CFT
DIRECTED TO CONDUCT AUDIT BY EXTERNAL AGENCY OF THE PROCESSES PUT IN PLACE BY REPORTING ENTITY TO RAISE/PROCESS/INVESTIGATE/CLOSE ALERTS
DIRECTED TO ENSURE AML STAFF ADEQUATELY TRAINED TO MONITOR FOR NEW AND EMERGING TYPES OF CRIME FROM THE PERSPECTIVE OF ‘PROCEEDS OF CRIME’ INCLUDING REFERENCE TO ORDERS/QUERIES/REPORTS RELATING TO REGULATORY AND LAW ENFORCEMENT ACTIONS FOR
DIRECTED TO FILE CERTIFICATION UNDER SIGNATURE OF DESIGNATED DIRECTOR AND PRINCIPAL OFFICER THAT DIRECTED MEASURES WOULD BE IMPLEMENTED WITHIN THE PERIOD PRESCRIBED
18-DEC-2023
|
|
| 13 |
|
|
FINO PAYMENTS BANK LTD.
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.5,00,000
25-JAN-2024
|
|
| 14 |
|
|
HCL CAPITAL PVT.LTD.
|
|
|
DID NOT APPOINT DESIGNATED DIRECTOR AND PRINCIPAL OFFICER AS REQUIRED UNDER RULE OF 7(1) PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT INFORM AND REGISTER ITSELF WITH CHANGE IN NAME OF THE COMPANY
|
DIRECTED TO PUT IN PLACE AND ADOPT SUITABLE AML/CFT POLICY AS WELL AS ROBUST MECHANISM FOR RISK ASSESSMENT WITH REGARD TO AML/CFT
DIRECTED TO CONDUCT AUDIT BY EXTERNAL AGENCY OF THE PROCESSES PUT IN PLACE BY REPORTING ENTITY TO RAISE/PROCESS/INVESTIGATE/CLOSE ALERTS
DIRECTED TO ENSURE AML STAFF ADEQUATELY TRAINED TO MONITOR FOR NEW AND EMERGING TYPES OF CRIME FROM THE PERSPECTIVE OF ‘PROCEEDS OF CRIME’ INCLUDING REFERENCE TO ORDERS/QUERIES/REPORTS RELATING TO REGULATORY AND LAW ENFORCEMENT ACTIONS FOR
DIRECTED TO FILE CERTIFICATION UNDER SIGNATURE OF DESIGNATED DIRECTOR AND PRINCIPAL OFFICER THAT DIRECTED MEASURES WOULD BE IMPLEMENTED WITHIN THE PERIOD PRESCRIBED
18-DEC-2023
|
|
| 15 |
|
|
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
|
|
| 16 |
|
|
HONGKONG & SHANGHAI BANKING CORP.LTD.,THE
|
|
|
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
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
|
IMPOSED FINE RS.2,06,75,000
31-OCT-2022
|
|
| 17 |
|
|
INDICA TRAVEL & TOURS PVT.LTD.
|
|
|
DID NOT APPOINT DESIGNATED DIRECTOR AND PRINCIPAL OFFICER AS REQUIRED UNDER RULE OF 7(1) PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.1,00,000
WARNED/DIRECTED TO PAY DUE
31-OCT-2022
|
|
| 18 |
|
|
JAMMU & KASHMIR BANK LTD.,THE
|
|
|
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT CONDUCT ROBUST KNOW YOUR CLIENTS (KYC) AND DUE DILIGENCE OF CUSTOMER’S ACCOUNT
|
IMPOSED FINE RS.3,00,000
01-NOV-2022
|
|
| 19 |
|
|
MANIPUR WOMEN'S CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT SUBMIT REQUIRED INFORMATION
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
13-SEP-2023
|
|
| 20 |
|
|
MIZORAM URBAN CO-OPERATIVE DEVELOPMENT BANK LTD.
|
|
|
DID NOT FILE REPORTS ON TIME AS MANDATED BY ALERT ISSUED UNDER SECTION 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002
|
IMPOSED FINE RS.4,00,000
26-AUG-2020
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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