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Co-Sponsors
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: DIRECTED TO ADVISE TO IMPLEMENT STRINGENT PROCEDURES FOR SCREENING OF EMPLOYEES AS MANDATE BY RBI MASTER DIRECTION OF “KNOW YOUR CLIENTS”

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person 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)   		DIRECTED TO ADVISE TO IMPLEMENT STRINGENT PROCEDURES FOR SCREENING OF EMPLOYEES AS MANDATE BY RBI MASTER DIRECTION OF “KNOW YOUR CLIENTS”

DIRECTED TO PRIORITIZE PROMPT AND EFFICIENT RESPONSE TO REQUESTS FROM FIU-IND

DIRECTED TO PROVIDE CERTIFICATION WITHIN NINETY DAYS UNDER SIGNATURE OF DESIGNATED DIRECTOR

DIRECTED TO REVIEW ITS MECHANISM AND ENSURE THAT IMPROVEMENTS MADE TO ADDRESS THE OBSERVATION MADE IN SHOW CAUSE NOTICE

IMPOSED FINE RS.1,66,25,000

03-JUN-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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