By Aaron Nicodemus2024-02-05T21:28:00
The Reserve Bank of India (RBI) ordered a halt to many banking activities of digital payments provider Paytm while the regulator investigates “persistent noncompliances and continued material supervisory concerns.”
Paytm Payments Bank and its parent company, One97 Communications, made several disclosures to the National Stock Exchange of India indicating One97 would continue operating despite the RBI’s “embargo” on Paytm. The company also tamped down speculation the RBI’s enforcement directorate was conducting investigations into money laundering or foreign exchange rules violations at Paytm.
In addition to ceasing the acceptance of new customers, the RBI ordered Paytm to stop taking deposits and processing credit transactions or fund transfers after Feb. 29, it said in a Jan. 31 press release.
2024-02-01T18:32:00Z By Jeff Dale
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
2024-01-29T22:43:00Z By Jeff Dale
The Financial Transactions and Reports Analysis Centre of Canada is reportedly preparing to issue its largest fine to date against TD Bank for faulty anti-money laundering controls.
2024-01-19T18:43:00Z By Aaron Nicodemus
The Industrial and Commercial Bank of China and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address compliance failures and for the unauthorized disclosure of confidential supervisory information to an overseas regulator.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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