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Home News Item US Fines Hit Pakistani Bank’s Shares in New York
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US Fines Hit Pakistani Bank’s Shares in New York

februari 25, 2022by Reacties uitgeschakeld voor US Fines Hit Pakistani Bank’s Shares in New York

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U.S. financial regulators have fined the New York branch of the National Bank of Pakistan (NBP) more than $55 million for anti-money laundering violations and compliance deficiencies.

The fines by the Federal Reserve Board and the New York’s Department of Financial Services (NYDFS) led to a 7% drop in NBP’s shares Friday.

NBP’s “banking operations did not maintain an effective risk management program or con

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