FinTales Issue 32: Anti-money laundering laws, Data Bill & Fintechs
Ikigai Law
AUGUST 7, 2023
Fast forward to the last month, the Delhi High Court used the long arm of the PMLA to classify PayPal as a ‘reporting entity’ under the PMLA. It claimed that since it isn’t classified as a ‘payment system’ under the Payment and Settlement Systems Act, 2007 (by the RBI), it shouldn’t be classified as one under the PMLA either.
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