| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
NAGRIK SAHAKARI BANK LTD.
|
|
|
DID NOT FILE FICN/CCRS UNDER RULE 3(1) (C) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT FURNISH INFORMATION CALLED FOR U/S 12A OF REVENTION OF MONEY LAUNDERING ACT, 2002
|
IMPOSED FINE RS.7,40,000
03-DEC-2019
|
|
| 42 |
|
|
NAGRIK SAHAKARI BANK LTD.
|
|
|
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) READ WITH RULES 3(1) (C), 7(2), 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.1,00,000
27-OCT-2020
|
|
| 43 |
|
|
NAINITAL BANK LTD.,THE
|
|
|
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 IMPLEMENT EFFECTIVE TRANSACTION MONITORING AND REPORTING SYSTEM TO ALERT GENERATION, UCIC ALLOTMENT AND AUTHENTICATION OF KYC DOCUMENTS
DID NOT CONSIDER ALL PARAMETERS OF RISK ASSESSMENT AND TO CARRY OUT UPDATION OF RISK CATEGORY ON TRANSACTIONAL AND OCCUPATIONAL BASIS
DID NOT FOLLOW REQUISITE PROCESS OF DETERMINATION OF ULTIMATE BENEFICIAL OWNERSHIP
DID NOT FURNISH COMPLETE RESPONSE TO QUESTIONNAIRE FROM FIU-IND
DID NOT MATCH NAMES AND PROFILES OF CUSTOMERS WITH REQUISITE SANCTIONS LISTS AT THE TIME OF ONBOARDING
DID NOT UPDATE KNOW YOUR CLIENTS (KYC) AND ANTI-MONEY LAUNDERING (AML) POLICY
|
IMPOSED FINE RS.25,000
WARNED/DIRECTED TO PAY DUE
30-MAR-2022
|
|
| 44 |
|
|
NOIDA COMMERCIAL CO-OPERATIVE BANK LTD.
|
|
|
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.25,70,000
09-JAN-2020
|
|
| 45 |
|
|
ORIENTAL BANK OF COMMERCE
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.1,00,000
27-MAY-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 46 |
|
|
PAYPAL PAYMENTS PVT.LTD.
|
|
|
DID NOT GET REGISTERED AVOIDING ITS OBLIGATIONS TO MAINTAIN AND REPORT VARIOUS RECORDS VIOLATING SECTIONS 12(1) (A) AND (B) OF PREVENTION OF MONEY LAUNDERING ACT,2002 READ WITH RULES 3 AND 8 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT APPOINT DESIGNATED DIRECTOR AND PRINCIPAL OFFICER AS REQUIRED UNDER RULE OF 7(1) PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.96,00,000
17-DEC-2020
|
|
| 47 |
|
|
PRIME CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT EVOLVE AND IMPLEMENT INTERNAL MECHANISM TO REPORT SUSPICIOUS TRANSACTIONS VIOLATING SECTION 12 OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3, 5, 7 AND 8 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT FILR CTRS AND NTRS WITHIN TIMELINE VIOLATING SECTION 12 OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3, 5, 7 AND 8 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT SUBMIT CORRECT DATA TO FIU-IND
|
IMPOSED FINE RS.3,90,000
17-JUL-2019
|
|
| 48 |
|
|
PUNJAB & SIND BANK
|
|
|
DID NOT FILE CERTAIN THRESHOLD BASED REPORTS ACCURATELY AND/OR WITHIN TIMELINE VIOLATING SECTIONS 12 AND 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3,4,5,7 AND 8 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT IMPLEMENT EFFECTIVE INTERNAL MECHANISM TO FILE THRESHOLD BASED REPORTS ETC VIOLATING SECTION SECTIONS 12 AND 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3,4,5,7 AND 8 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.2,87,80,000
31-JUL-2019
|
|
| 49 |
|
|
PUNJAB NATIONAL BANK
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.3,00,000
01-OCT-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 50 |
|
|
PUNJAB NATIONAL BANK
|
|
|
DID NOT FILE CERTAIN THRESHOLD BASED REPORTS VIOLATING SECTIONS 12 AND 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3 AND 7 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT IMPLEMENT EFFECTIVE INTERNAL MECHANISM TO FILE THRESHOLD BASED REPORTS ACCURATELY AND/OR WITHIN TIMELINE VIOLATING SECTION SECTIONS 12 AND 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3 AND 7 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT IMPLEMENT EFFECTIVE INTERNAL MECHANISM TO FILE THRESHOLD BASED REPORTS AND SUSPICIOUS TRANSACTIONS REPORTS TIMELY AND ACCURATELY VIOLATING SECTION SECTIONS 12 AND 12A OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3 AND 7 OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT SUBMIT CORRECT DATA TO FIU-IND
|
IMPOSED FINE RS.15,62,90,000
29-JUL-2019
|
|
| 51 |
|
|
RAJGURUNAGAR SAHAKARI BANK LTD.,THE
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
WARNED & CAUTIONS TO EXERCISE IN FUTURE
DIRECTED TO RE-EXAMINE SYSTEM FOR DETECTING AND REPORTING SUSPICIOUS TRANSACTIONS
DIRECTED TO ENSURE COMPLIANCE WITH ITS OBLIGATIONS UNDER PML ACT, 2002
22-DEC-2025
|
|
| 52 |
|
|
SARVA HARYANA GRAMIN BANK
|
|
|
DID NOT FILE FICN/CCRS UNDER RULE 3(1) (C) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) READ WITH RULES 3(1) (C), 7(2), 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.9,00,000
14-OCT-2020
|
|
| 53 |
|
|
SHIVAJIRAO BHOSALE SAHAKARI BANK LTD.
|
|
|
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.4,50,000
31-OCT-2022
|
|
| 54 |
|
|
SHRIRAM CITY UNION FINANCE LTD.
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT IDENTIFY AND VERIFY BENEFICIAL OWNER VIOLATING PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT UNDERTAKE RISK CATEGORIZATION OF CUSTOMERS TO CONDUCT PERIODICAL REVIEW VIOLATING PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.4,50,000
04-DEC-2020
|
|
| 55 |
|
|
SOLAPUR SOCIAL URBAN CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.5,50,000
15-APR-2019
|
|
| 56 |
|
|
STAR UNION DAI-ICHI LIFE INSURANCE CO.LTD.
|
|
|
DELAY IN REPORTING OF SUSPICIOUS TRANSACTIONS
DID NOT FURNISH ALL REPORTABLE TRANSACTIONS INCLUDING INTEGRALLY CONNECTED TRANSANCTIONS
|
IMPOSED FINE RS.1,00,000
02-JUL-2014
|
APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI VIDE ITS ORDER DATED 09/07/2015 DISMISSED THE APPEAL. NO COSTS
|
| 57 |
|
|
STATE BANK OF INDIA
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.5,00,000
27-OCT-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018 |
| 58 |
|
|
STERLING URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE COUNTERFEIT CURRENCY REPORT (CCRS)
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) READ WITH RULES 3(1) (C), 7(2), 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.50,000
DIRECTED TO ENSURE SUITABLE TRAINING IN AML/CFT FOR THE CONCERNED STAFF
14-SEP-2023
|
|
| 59 |
|
|
SUNDARAM FINANCE LTD.
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT FULLY IMPLEMENT CLIENT DUE DILIGENCE PROGRAMME SPECIFICALLY REGARD TO SCREENING NAMES OF PROSPECTIVE CUSTOMERS/BORROWERS IN THE LATEST UNSC SANCTIONS LIST AND SUCH OTHER LISTS VIOLATING PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT VERIFY IDENTIFY OF ITS CLIENTS SPECIFICALLY BY NON-VERIFICATION OF KYC DOCUMENTS WITH ORIGINALS VIOLATING PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.3,00,000
27-OCT-2020
|
|
| 60 |
|
|
TUMKUR GRAIN MERCHANTS CO-OPERATIVE BANK LTD.
|
|
|
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.4,50,000
09-JAN-2020
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 3 of 4
|
