| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ALLAHABAD BANK
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.5,10,000
05-FEB-2014
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 2 |
|
|
ALLAHABAD BANK
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT EVOLVE INTERNAL MECHANISM TO FURNISH INFORMATION OF CASH TRANSACTIONS
|
IMPOSED FINE RS.3,00,000
31-DEC-2013
|
APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI VIDE ITS ORDER DATED 09/07/2015 DISMISSED THE APPEAL. NO COSTS
|
| 3 |
|
|
ALLAHABAD BANK
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.3,00,000
19-OCT-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 4 |
|
|
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 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
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
|
IMPOSED FINE RS.3,00,000
19-MAR-2019
|
|
| 5 |
|
|
ANDHRA BANK
|
|
|
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
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
|
IMPOSED FINE RS.14,00,000
22-MAY-2019
|
|
| 6 |
|
|
ASIT C.MEHTA INVESTMENT INTERMEDIATES LTD.
|
|
|
DID NOT PROPERLY RAISE ALERTS AND CONSIDER ADVERSE ORDERS OF SEBI FROM THE PERSPECTIVE OF AML TRANSACTIONAL MONITORING AND REPORTING OBLIGATIONS
|
IMPOSED FINE RS.1,00,000
DIRECTED TO FILE CERTIFICATION UNDER SIGNATURE OF DESIGNATED DIRECTOR AND PRINCIPAL OFFICER THAT DIRECTED MEASURES WOULD BE IMPLEMENTED WITHIN THE PERIOD PRESCRIBED RS.1,00,000
31-MAY-2023
|
|
| 7 |
|
|
AXIS BANK LTD.
|
|
|
DID NOT INVESTIGATE AND CLOSE ALERTS BASED ON APPLICATION OF MIND
DID NOT ADDRESS ALERTS AND CLOSE THEM WITHIN REASONABLE PERIOD
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
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 RS.1,66,25,000
DIRECTED TO PROVIDE CERTIFICATION WITHIN NINETY DAYS UNDER SIGNATURE OF DESIGNATED DIRECTOR RS.1,66,25,000
DIRECTED TO PRIORITIZE PROMPT AND EFFICIENT RESPONSE TO REQUESTS FROM FIU-IND RS.1,66,25,000
DIRECTED TO ADVISE TO IMPLEMENT STRINGENT PROCEDURES FOR SCREENING OF EMPLOYEES AS MANDATE BY RBI MASTER DIRECTION OF “KNOW YOUR CLIENTS” RS.1,66,25,000
03-JUN-2024
|
|
| 8 |
|
|
AXIS 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.2,64,30,000
13-APR-2016
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 9 |
|
|
AXIS BANK LTD.
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.13,00,000
23-MAR-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 10 |
|
|
BAJAJ FINANCE LTD.
|
|
|
DID NOT FURNISH COMPLETE RESPONSE TO QUESTIONNAIRE FROM FIU-IND
DID NOT CARRY OUT KNOW YOUR CLIENTS (KYC) UPDATION BASED ON PERIODIC RISK ASSESSMENT
DID NOT CARRY OUT DETERMINATION OF ULTIMATE BENEFICIAL OWNERSHIP
DID NOT CARRY OUT PRODUCT RISK ASSESSMENT AND TO PERFORM ENHANCED DUE DILIGENCE FOR CUSTOMERS
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
|
IMPOSED FINE RS.3,00,000
WARNED/DIRECTED TO PAY DUE RS.3,00,000
28-MAR-2022
|
|
| 11 |
|
|
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 RS.25,000
09-FEB-2024
|
|
| 12 |
|
|
BANK OF BARODA
|
|
|
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
|
| 13 |
|
|
BANK OF BARODA
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT CARRY OUT EFFECTIVE CUSTOMER DUE DILIGENCE VIOLATING SUB RULES (4), (7), (12) AND 9 OF RULES
DELAY IN FILING OF ELECTRONIC FUND TRANSFER (EFTS) REPORTS
DID NOT FILE ELECTRONICS FUND TRANSFER (EFTS) REPORTS
DID NOT REPORT MATERIAL MISSTATEMENTS KNOWN TO HIM IN TO APPEAR IN A FINANCIAL STATEMENTS VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 6 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
FILED IMPROPER SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DELAY IN FILING OF SUSPICIOUS TRANSACTIONS REPORTS (STRS)
|
IMPOSED FINE RS.9,00,00,000
27-MAR-2018
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 14 |
|
|
BANK OF INDIA
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.4,00,000
19-SEP-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 15 |
|
|
BANK OF MAHARASHTRA
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.2,00,000
03-JUL-2015
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 16 |
|
|
BINANCE,M/S
|
|
|
DID NOT ADHERE TO STATUTORY OBLIGATIONS UNDER PMLA NOTICE DATED 28/12/2023
|
IMPOSED FINE RS.18,82,00,000
19-JUN-2024
|
|
| 17 |
|
|
BONANZA PORTFOLIO LTD.
|
|
|
DID NOT REPORT SUSPICIOUS TRANSACTIONS IN RESPECT OF ACCOUNT AND SEVERAL ALERTED 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 REVIEW DUE DILIGENCE MEASURES INCLUDING VERIFYING AGAIN IDENTIFY OF THE CLIENTS AND OBTAINING INFORMATION ON PURPOSE AND INTENDED NATURE OF BUSINESS RELATIONSHIP
DID NOT CONDUCT CLIENT DUE DILIGENCE OF EXISTING CLIENTS BASED ON MATERIALITY AND RISK
DID NOT PROPERLY RAISE ALERTS AND CONSIDER ADVERSE ORDERS OF SEBI FROM THE PERSPECTIVE OF AML TRANSACTIONAL MONITORING AND REPORTING OBLIGATIONS
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
|
IMPOSED FINE RS.19,40,000
DIRECTED TO REVIEW AND REVISE POLICIES AND APPROACH REGARDING INCOME RANGES AND RELATED KYC INFORMATION OF CLIENTS RS.19,40,000
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 RS.19,40,000
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 RS.19,40,000
DIRECTED TO CONDUCT AUDIT BY EXTERNAL AGENCY OF THE PROCESSES PUT IN PLACE BY REPORTING ENTITY TO RAISE/PROCESS/INVESTIGATE/CLOSE ALERTS RS.19,40,000
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 RS.19,40,000
31-DEC-2024
|
|
| 18 |
|
|
BULDANA URBAN CO-OPERATIVE CREDIT SOCIETY LTD.
|
|
|
DID NOT HAVE PROPER SYSTEM TO DETECT AND REPORT CASH TRANSACTION REPORTS (CTRS) AND/OR SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DID NOT REPORT CASH TRANSACTIONS AND/OR DELAY IN REPORTING CASH TRANSACTIONS REPORT
|
IMPOSED FINE RS.6,20,000
01-AUG-2022
|
|
| 19 |
|
|
BYBIT FINTECH LTD.
|
|
|
PROVIDED SERVICES TO INDIAN CLIENTS AND OPERATIONS WITHIN INDIA WITHOUT ADHERING TO STATUTORY OBLIGATION UNDER (PREVENTION OF MONEY LAUNDERING) ACT, 2005
|
IMPOSED FINE RS.9,27,00,000
31-JAN-2025
|
|
| 20 |
|
|
CANARA BANK
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO REPORT INTEGRALLY CONNECTED TRANSACTIONS
|
IMPOSED FINE RS.3,00,000
29-OCT-2015
|
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. |
| |
|
|
| Page 1 of 5
|
