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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: WARNED/DIRECTED TO PAY DUE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person 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
2
History of entity/person 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
3
History of entity/person 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
4
History of entity/person TVS CREDIT SERVICES LTD.  
  DID NOT ENSURE OFFICIALLY VALID DOCUMENTS FOR PROOF OF ADDRESS AND IDENTITY VERIFIED WITH ORIGINALS

DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)

SYSTEM DID NOT THROW ALERTS WHEN TRANSACTIONS WERE INCONSISTENT WITH RISK CATEGORISATION AND UPDATED CUSTOMER PROFILE   		DIRECTED TO RE-EXAMINE SYSTEM FOR DETECTING AND REPORTING SUSPICIOUS TRANSACTIONS

WARNED/DIRECTED TO PAY DUE

27-JAN-2022
5
History of entity/person VIKRAMADITYA NAGARIK SAHAKARI BANK MARYADIT  
  DID NOT EVOLVE INTERNAL MECHANISM TO CLASSIFY APPLICABLE/ELIGIBLE NPO ACCOUNTS AND FLAGGING THE SAME FOR IDENTIFICATION, DETECTION, MONITORING AND REPORTING OF ALL TRANSACTIONS INVOLVING RECEIPTS BY NPOS

DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS

DID NOT EVOLVE INTERNAL MECHANISM TO IDENTIFY AND VERIFY ULTIMATE BENEFICIAL OWNERSHIP OF TRUSTS, LEGAL PERSONS, LEGAL ENTITIES AND SIMILAR OTHER CUSTOMERS   		IMPOSED FINE RS.3,00,000

WARNED/DIRECTED TO PAY DUE

09-NOV-2022
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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