US fines National Bank of Pakistan for anti-money laundering violations
Image Credit: techx.pk
The United States federal regulators imposed fines worth $55 million on the National Bank of Pakistan (NBP) for non-compliance and anti-money laundering violations. The fines have been imposed by the US Federal Reserve--the central bank of the country--and by the state of New York's Superintendent of Financial Services Adrienne A Harris. The regulators will require the bank to improve its anti-money laundering program.