NBP agrees to pay $55.4mn in penalty for AML violations, compliance failures

News Image

MG News | February 25, 2022 at 10:45 AM GMT+05:00

0:00

February 25, 2022 (MLN): National Bank of Pakistan (NBP) has reached agreements with the Federal Reserve Board and Federal Reserve Bank of New York (FRB), and the New York State Department of Financial Services (NYDFS), the US regulators of NBP's New York branch, a notice issued to bourse showed today.

The agreements include fines totalling $55.4 million focused on historical compliance program weaknesses and delays in making compliance-related enhancements. There were no findings of improper transactions or willful misconduct.

The New York branch has been under new management since May 2020 and has substantially enhanced its compliance program. U.S. regulators have recognized the many positive changes resulting from new management The National Bank of Pakistan and the New York branch are fully committed to satisfying the regulators' expectations, the notice said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 167,342.77
661.11M
0.66%
1099.87
ALLSHR 101,659.10
1,112.31M
0.52%
526.28
KSE30 51,205.12
163.83M
0.63%
318.51
KMI30 241,651.08
77.56M
0.22%
534.43
KMIALLSHR 66,768.78
645.71M
0.37%
249.34
BKTi 48,288.27
109.20M
1.21%
577.20
OGTi 32,652.26
11.48M
0.72%
233.65
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,925.00 111,160.00
107,705.00
-3150.00
-2.84%
BRENT CRUDE 60.79 61.20
60.58
-0.22
-0.36%
RICHARDS BAY COAL MONTHLY 80.50 0.00
0.00
-1.10
-1.35%
ROTTERDAM COAL MONTHLY 92.75 92.75
92.75
-0.25
-0.27%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 56.78 57.20
56.60
-0.24
-0.42%
SUGAR #11 WORLD 15.77 15.78
15.51
0.27
1.74%

Chart of the Day


Latest News
October 21, 2025 at 12:18 PM GMT+05:00

Gold price in Pakistan remain unchanged


October 21, 2025 at 10:54 AM GMT+05:00

NEPRA revises K-Electric tariff, lowers rate to Rs32.37/unit


October 21, 2025 at 10:46 AM GMT+05:00

Japan elects Sanae Takaichi as first female PM



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg