Fed or­ders NBP to strengthen anti money laun­der­ing rules

The Pak Banker - - COMPANIES/BOSS -

The US cen­tral bank Fed­eral Re­serve said it was di­rect­ing a ma­jor Pak­istani com­mer­cial bank to come up with a plan to im­prove com­pli­ance with anti-money laun­der­ing rules. The Fed said in a doc­u­ment it had iden­ti­fied short­com­ings in anti-money laun­der­ing prac­tices at the Na­tional Bank of Pak­istan's New York branch, and that the Pak­istani bank had agreed to sub­mit a writ­ten plan within 60 days to im­prove com­pli­ance.

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