https://www.taxtmi.com/news?id=24642 Investigations found systematic KYC non-compliance at a branch where over twelve hundred accounts were opened without PAN, with account forms completed by staff and many accountholders later denying knowledge. Transactional patterns reveal deliberate deposit structuring-identical cash deposits made shortly after account opening and converted into fixed deposits-to evade PAN reporting. Bank officials implicated a director in directing the transactions; collected evidence led to the restraint of the identified deposits and further investigations are in progress. en-us Sun, 07 Nov 2021 18:08:24 +0530 Sun, 07 Nov 2021 18:08:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24642 Investigations found systematic KYC non-compliance at a branch where over twelve hundred accounts were opened without PAN, with account forms completed by staff and many accountholders later denying knowledge. Transactional patterns reveal deliberate deposit structuring-identical cash deposits made shortly after account opening and converted into fixed deposits-to evade PAN reporting. Bank officials implicated a director in directing the transactions; collected evidence led to the restraint of the identified deposits and further investigations are in progress. News - Sun, 07 Nov 2021 18:08:24 +0530 https://www.taxtmi.com/news?id=24642