The government has also taken action against the Paytm payment batch after the reserve rush. Brought by PIB, the Finance Ministry’s Financial Intelligence Unit or FIU imposed a fine of Rs 5.49 crore on Paytm Payments charges. The fine is said to have been imposed for violation of rules under PMLA.
Paytm Payments Bank has been accused of being involved in money laundering. Due to which action under Prevention of Money Laundering Act, 2002 has been taken against this organization. The decision was taken by the Finance Ministry’s Financial Intelligence Unit (FIU) after reviewing the actions of other agencies, including the Reserve Bank, the report claimed.
It is claimed to have information against Paytm Payments Bank for indulging in many illegal activities including online gambling. There are also allegations that some people and organizations have made illegal money transactions through the Paytm Payments scam.
