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 155,964.62
324.34M
0.37%
580.11
ALLSHR 95,539.35
1,062.40M
0.43%
405.78
KSE30 47,636.29
136.72M
0.36%
169.30
KMI30 229,091.82
107.07M
0.64%
1446.60
KMIALLSHR 64,257.89
458.33M
0.58%
369.83
BKTi 41,944.08
79.36M
0.44%
182.30
OGTi 31,778.62
7.25M
0.50%
159.48
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,220.00 117,240.00
114,940.00
-2045.00
-1.74%
BRENT CRUDE 67.14 67.52
66.78
0.15
0.22%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-1.20
-1.41%
ROTTERDAM COAL MONTHLY 93.00 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.90 63.24
62.52
0.21
0.34%
SUGAR #11 WORLD 15.90 15.98
15.80
0.11
0.70%

Chart of the Day


Latest News
September 16, 2025 at 02:31 PM GMT+05:00

Pakistan BCI decreases by 2.1 points in September


September 16, 2025 at 01:07 PM GMT+05:00

Gold price in Pakistan hits record Rs391,000 per tola


September 16, 2025 at 12:22 PM GMT+05:00

Saudi Riyal available at PKR 76 in open market


September 16, 2025 at 12:08 PM GMT+05:00

Pakistan consumer confidence falls to 37.7 points in September


September 16, 2025 at 12:07 PM GMT+05:00

PSX issues revised calendar for Government Ijarah Saukuk auction



Top 5 things to watch in this week

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