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SOURCE : NEWSPAPER ADS RELEASED BY FIU STOCK EXCHANGE LTD.

SOURCE OF INFORMATION : MINISTRY OF FINANCE - FINANCIAL INTELLIGENCE UNIT
PERIOD COVERED : 14-FEB-2013 TO 30-APR-2026

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: DEFAULTED IN SETTING UP ADEQUATE MECHANISM TO REPORT REQUIRED INFORMATION

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
61
History of entity/person UNION BANK OF INDIA  
  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   		IMPOSED FINE RS.54,00,000

DIRECTED TO UNDERTAKE COMPREHENSIVE REVIEW OF ITS DUE DILIGENCE PROCEDURES

DIRECTED TO REASSESS ITS INTERNAL MECHANISM AND TRANSACTION MONITORING APPROACH

01-OCT-2024
62
History of entity/person URBAN CO-OPERATIVE BANK LTD.,THE,SHIKARIPUR  
  DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORTING OF CASH TRANSACTIONS ABOVE RS.10.00 LACS VIOLATING SECTIONS 12(1) (A) AND 12(1) (B) OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005   IMPOSED FINE RS.6,20,000

15-JUL-2019
63
History of entity/person VIRAJPETH PATTANA SAHAKARA BANK NIYAMITHA  
  DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF CASH 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

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 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   		IMPOSED FINE RS.6,45,000

03-MAR-2021
64
History of entity/person YES BANK LTD.  
  DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS   IMPOSED FINE RS.3,00,000

11-JAN-2016 		NOT APPEARING IN THE LIST DATED 30-JUN-2018
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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