| | NOVEMBER 20234Afew months ago, the Delhi High Court recently made a ruling that the California-headquartered online payment platform, PayPal, is a `Payment System Operator' within the framework of the Prevention of Money Laundering Act (PMLA). As per the ruling, the company must comply with the reporting entity obligations under the PMLA. The High Court rejected PayPal's argument that since it was not considered a `payment system operator' or `reporting entity' under the Payment and Settlement System Act, 2007, it must Ipso facto be held to fall outside the dragnet of the PMLA. Indeed, India is at an interesting juncture as the country is building one of the world's largest digital economies. It's been only days since the Enforcement Directorate (ED) attached Rs.5.87 crore from several online gambling and betting entities under the Prevention of Money Laundering Act, 2002. The country is expected to further introduce new regulatory frameworks across the digital ecosystem as we go into the future. Compliance is increasingly becoming a significant aspect of creating and even continuing success stories.Remember the tug-war between Twitter and the government on the latest IT Rules 2021 (Intermediary Guidelines and Digital Media Ethics Code)? You don't want your organization to end up in dire predicaments like that. Ethical guidance and long-term risk management are paramount, whether a startup or an established organization. It is no wonder organizations, even small businesses, opt for the service of law firms or appoint Chief Compliance Officers to manage the compliance department similarly to operational units. They, in turn, directly contribute to organizational growth. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comIndia's Compliance Landscape is Evolving Rapidly Vol 04 · Issue 5 - 1 · NOVEMBER, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan NoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersSatyarth Lashkari To subscribeVisit https://www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Senior Designer Girish M Designer Hari Shankar P AVP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Team Hima P. M. Roshan Akthar P. Tejaswini Keerthana Kantharaj Roopalatha HEditorial
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