Fino Payments Bank shares drop 19% after money laundering report
after close1 source ↓written by the desknot a recommendation
- on Monday
- 19%
Shares of Fino Payments Bank fell 19% on Monday, reaching a record low, following a JurisHour report raising money laundering concerns linked to online gaming transactions. The DGGI may recommend an ED investigation into ₹10,000 cr transactions, amid allegations of due diligence failures and shell entity onboarding.
• DGGI arrests Fino Payments Bank MD Rishi Gupta
• Telangana HC reserves order on CEO’s arrest
This situation may lead to heightened regulatory scrutiny and impact investor sentiment.
Not investment advice. For informational purposes only.