🇮🇳India

FIU-IND विनियामक दंड और अनुपालन जुर्माना

2 verified sources

Definition

VDA platforms failing to register with FIU-IND or meet PMLA reporting requirements face substantial enforcement fines. Binance received ₹18,82,00,000 and Bybit received ₹9,27,00,000 for PMLA violations. No minimum threshold exists for suspicious activity reporting, creating continuous compliance risk.

Key Findings

  • Financial Impact: HARD Evidence: ₹18.82 Cr (Binance), ₹9.27 Cr (Bybit). LOGIC: Typical ₹1-5 Cr fine per major compliance breach; ₹10-50 Lakh per unregistered VASP.
  • Frequency: Per enforcement action; escalating regulatory scrutiny in 2023-2025
  • Root Cause: Delayed or incomplete FIU-IND registration; inadequate transaction monitoring; gaps in KYC documentation; failure to implement Travel Rule for fund transfers.

Why This Matters

The Pitch: VDA platforms in India waste ₹10-20 Cr annually on compliance remediation and penalty recovery. Automation of FIU-IND reporting, KYC verification, and transaction monitoring eliminates registration failures and non-compliance fines.

Affected Stakeholders

Compliance Officer, KYC/AML Team, Regulatory Affairs, Finance/CFO

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Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

बहुआयामी कर अनुपालन और शेड्यूल VDA फाइलिंग ओवरहेड

LOGIC: 250-350 hours/annum × ₹500-1,000/hour (compliance staff) = ₹12.5-35 Lakh/year per mid-size VDA platform. Larger platforms (Binance-scale): ₹50-150 Lakh/year. Penalty for incorrect Schedule VDA filing: up to 50% of undisclosed gain.

अत्यधिक KYC सत्यापन और ऑनबोर्डिंग विलंब से ग्राहक अप्रवाह

LOGIC: Mid-size platform: 500-1,000 daily sign-up attempts × 10% abandonment rate = 50-100 lost users/day × ₹5,000 avg. lifetime customer value = ₹25-50 Lakh/day revenue leakage. Annualized: ₹6.25-12.5 Cr/year per platform.

Cryptocurrency Regulatory Non-Compliance और TDS/GST Compliance Gaps

Estimated: ₹40,000-₹2,00,000 per client annually in compliance labor + ₹50,000-₹5,00,000 potential penalty if TDS/GST misclassification detected in audit

KYC Verification Delays और Client Onboarding Bottleneck

Estimated: ₹50,00,000-₹2,00,00,000 annually in lost ACV from 10-15% client churn during onboarding delays (typical: 1 in 7-10 prospects abandon during KYC wait)

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