US authorities fined National Bank of Pakistan (NBP) $55 million in separate orders, with the US Federal Reserve Board announcing a $20.4-million penalty for anti-money laundering violations, while New York State Department of Financial Services said the bank agreed to pay a $35-million penalty for failure to maintain an ‘effective and compliant anti-money laundering program’.
The US Federal Reserve Board announcement can be found here.
…
Read the full story at the Business Recorder - Latest News website.
