Paytm denies money laundering claims during RBI investigation.

February 4, 2024
1 min read

TLDR: India’s banking regulator, the Reserve Bank of India (RBI), has reportedly found thousands of Paytm Payments Bank accounts created without proper identification, which may have been used for money laundering. The RBI has turned this information over to the country’s financial crime-fighting agency. This news comes after the RBI ordered Paytm Payments Bank to suspend most of its business after an audit found “persistent noncompliances and continued material supervisory concerns.” Paytm has refuted the money laundering claims and stated that it has never been investigated by the Enforcement Directorate.

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