â¹9 cr fine on Bank of Baroda over 2015 forex remittance scam
The Financial Intelligence Unit has imposed â¹9 crore penalty on Bank of Baroda. The bank failed in detecting wrongdoing and instances of money laundering at its Delhi-based branch, where a â¹6,000-crore forex remittance scam was reported in 2015. The bank was also held guilty for failing to file 63 integrally connected cash transactions in seven accounts.