PayPal fined Rs 96 Lakh as penalty for violating India's anti-money laundering processes
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American online payment gateway giant PayPal has been imposed a Rs 96 lakh penalty by the FIU for alleged contravention of the anti-money laundering law and accused of "concealing" suspect financial transactions and abetting "disintegration" of India's financial system. PayPal, which began India operations in November 2017, said it was fully committed to follow due processes and is "carefully reviewing the matter".