Money Laundering - Levy of penalty - failure on the part of ...

Appellate Tribunal's Decision to Change Money Laundering Penalty Upheld, Citing Section 13(2)(a) of the Act.

September 11, 2019

Case Laws     Money Laundering     HC

Money Laundering - Levy of penalty - failure on the part of banks regarding suspicious transactions - Even if it is assumed that the sting operation was conducted prior to 15.02.2013, there is no infirmity in the decision of the Appellate Tribunal to modify the punishment from a monetary fine to a warning in writing, in terms of Section 13(2)(a) of the Act as substituted with effect from 15.02.2013 - HC

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