PayPal Fined Rs 96 Lakh For Breaching Financial Norms
The Financial Intelligence Unit has levied a penalty of Rs 96 lakh on the online payment application PayPal for breaching India's anti-money laundering laws. Reportedly, PayPal has been charged for "concealing" irregular financial transactions and encouraging the "disintegration" of the financial system. The US-based firm confirmed that it is reviewing the issue. Moreover, the firm was accused of "defeating and frustrating" public interest… read-more
Tags: Paypal, Online Payment, FUI, MONEY LAUNDERING
Courtesy: LiveMint