The Financial Intelligence Unit-India (FIU-IND) has imposed a penalty of Rs 5,49,00,000 on Paytm Payments Bank Ltd under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002. The monetary penalty of 'five crore forty-nine lakh) was imposed as the FIU-IND initiated a review of the PPBL on receipt of specification information from law enforcement agencies concerning a few entities and their business network. The information included illegal acts like organising and facilitating online gambling. Also, the money generated from this was channelled through bank accounts by the entities with PPBL. Google Trying To Intimidate and Coerce Indian Developers With Its Exploitative Policies, ADIF Slams Tech Giant Over Delisting Apps.

PPBL Fined 'Rs 5,49,00,000' By FIU-IND: 

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