FINAL ORDER

13.11.2025

This Order disposes of the Appeal No. FPA-PMLA-3175/DLI/2019 filed by the Punjab National Bank, against the Order dated 29.07.2019 (Impugned Order) passed by the Director, Financial Intelligence Unit- India (FIU) under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA). Total penalty of Rs. 15,62,90,000/- has been imposed on the Appellant Bank vide the Impugned Order.

2. Ld. Counsel for the Appellant submitted that a notice was issued by the Respondent on 15.12.2017 to cause an inquiry with regard to the compliance by the Appellant Bank with respect to various obligations as reporting entity, under PMLA read with Prevention of Money Laundering Rules 2005. Thereafter, inspection was conducted on 02.01.2018 and 05.01.2018 of the Appellant Bank for the review period from 01.04.2016 to 30.11.2017. The Respondent sought for information from the Appellant vide its letters dated 05.03.2018 and 04.04.2018. The Appellant responded to these letters and sought guidance from the Respondent as to bring about restructuring of the Anti-Money Laundering Setup of the Appellant Bank. Further correspondence was made in respect of Non-Profit Organisation Transactions