PayPal May Quit India After Rs 9.6 Million Penalty Slapped For Violating Anti Money Laundering Laws

American online payment gateway giant PayPal may quit its business in India after the Financial Intelligence Unit of India (FIU) slapped the firm with a penalty of Rs 9.6 million for violating anti money laundering laws. FIU has accused PayPal of "concealing" suspect financial transactions and abetting "disintegration" of India's financial system.

PayPal May Quit India After Rs 9.6 Million Penalty Slapped For Violating Anti Money L...

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