Banking News
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Source: Economic Times
Economic Times
Source
Regulation & Compliance
Category
4 min
Read time
02 Jul
Published
Regulation & Compliance
4 min read· Economic TimesBank of Baroda to pay $600 million to settle NMC Health insolvency claims
Bank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of gross negligence, failing to conduct proper due diligence, and allowing fraudulent transactions without adhering to anti-money laundering and KYC norms. This payout, significantly ex…
Bank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of gross negligence, failing to conduct proper due diligence, and allowing fraudulent transactions without adhering to anti-money laundering and KYC norms. This payout, significantly ex
Source: Economic Times