The Central Bank’s Financial Intelligence Unit (FIU) has fined two financial services’ providers a total of Rs. 03 million for violations during November-December 2024 under anti-money laundering laws.
Accordingly, the Indian Bank was imposed a fine of Rs. 2 million and Amana Takaful Life Rs. 1 million.
The penalties were imposed for non-compliance with the provisions of the Financial Transactions Reporting Act (FTRA), the banking regulator said in a media release.
The complete media release is as follows :
