In a September 22, 2022 decision, the U.S. District Court for the Southern District of New York held a commercial general liability policy’s war and financial services exclusions barred.
Additionally, the RBI imposed a penalty of approx Rs 27.8 lakhs on Western Union Financial Services (WUFSI) for non-compliance with provision laid out in the Master Direction on Money Transfer Service Scheme (MTSS Directions) dated February 22, 2017.