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Paytm denies money laundering allegations and probe by India's AML watchdog

( February 5, 2024, 08:11 GMT | Official Statement) -- MLex Summary: Paytm, India's multinational financial technology company, has denied speculation that it was under investigation for money laundering activities by the financial crime-fighting agency under the 2002 Prevention of Money Laundering Act. Speculation that Paytm — specializing in digital payments and financial services — is involved in money laundering activities follows action taken by the Indian central bank against Paytm Payments Bank for non-compliance and supervisory concerns. The parent company, One97 Communications, said on Sunday that neither Paytm nor its founder and chief executive officer Vijay Shekhar Sharma are being investigated by the Directorate of Enforcement related to money laundering activities.Statement from Paytm attached:...

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