Money Laundering - Levy of penalty - Reporting Entity / Agency - ...

Money Laundering Penalty Unjustified for Reporting Entities Acting in Good Faith Belief of Non-Compliance Requirement.

July 31, 2023

Case Laws Money Laundering HC

Money Laundering - Levy of penalty - Reporting Entity / Agency - PayPal - the imposition of penalty would also not be justified where a person is found to have proceeded on the bona fide belief that it was not covered by the provision or legally obliged to effect compliance. - HC

View Source

← Previous Next →

Money Laundering - Levy of penalty - Reporting Entity / Agency - ...

Money Laundering Penalty Unjustified for Reporting Entities Acting in Good Faith Belief of Non-Compliance Requirement.

July 31, 2023

Case Laws Money Laundering HC

You may also like:

Reporting Entity under Prevention of Money Laundering Act, 2002 (PMLA)

Notification permits 15 reporting entities under Prevention of Money-laundering Act, 2002 to perform Aadhaar authentication as per Aadhaar Act, 2016 for purposes of...

The Ministry of Finance, through a notification dated March 14, 2024, has exercised its authority under section 11A of the Prevention of Money-laundering Act, 2002. This...

Central Government authorizes IND-money Private Limited to perform Aadhaar authentication for purposes of Section 11A of Prevention of Money-laundering Act, 2002....

This notification permits two reporting entities, Go-Digit Life Insurance Limited and Acko Life Insurance Limited, to perform Aadhaar authentication for purposes u/s 11A...

The Ministry of Finance issued a notification u/s 11A of the Prevention of Money-laundering Act, 2002, permitting reporting entities to conduct Aadhaar authentication...

Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Obligation of Authorised Persons under Prevention of...

Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards / Combating the Financing of Terrorism (CFT) Obligation of Authorised Persons under Prevention of...

Money Laundering - Whether an Online Payment Gateway Service (OPGSP) could be said to be a Reporting Agency under the PMLA? - It is the case of the respondents that...

The Reserve Bank of India has permitted four additional entities - Annapurna Finance Private Limited, Incred Financial Services Limited, PayU Finance India Private...

Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Money changing activities - Circular

Section 12(1)(b) of the Prevention of Money Laundering Act, 2002 requires reporting entities to furnish information about transactions referred to in Section 12(1)(a) to...

The AT upheld the attachment of shares in a money laundering case, finding that the appellant routed bribe money through share purchases related to the Agusta Westland...

Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

The High Court dealt with a case involving money laundering through the sale of illegally printed lottery tickets. The court held that the Prevention of Money Laundering...

Quick Updates: