US-based PayPal registers with FIU under anti-money laundering law

US-based PayPal has registered with India's Financial Intelligence Unit (FIU), marking the end of a six-year legal dispute. The move aligns PayPal with the Prevention of Money Laundering Act (PMLA), under which it has completed the necessary formalities and submitted the required documents to the FIU. It has also appointed a principal officer to oversee official communications with the FIU.