Tag Archives: Anti-Money Laundering

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15 Pakistani banks fined for violating anti-money laundering laws

07 July, 2020 5:29 pm 5:29 pm

ISLAMABAD (92 News) – The State Bank of Pakistan (SBP) has imposed heavy fines on 15 commercial banks for violating anti-money laundering and terror financing laws. According to the reports, the SBP penalised 15 banks for violating customer due diligence, foreign exchange. The collective fine amounts to Rs1.68 billion and was imposed from March to … Read More

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Anti-money laundering cell established at NAB

10 October, 2019 3:26 pm 3:26 pm

ISLAMABAD (92 News) – An anti-money laundering and combating the financing of terrorism cell has been established at National Accountability Bureau, Islamabad. The cell, to be headed by Director General Operations NAB Headquarters Zahir Shah, will have five members. The main responsibilities of the cell will include compliance, monitoring, analysis and coordination with National FATF … Read More

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Grey list: Anti-Money Laundering, Foreign Exchange Regulation (Amend) Bills...

07 July, 2019 11:52 am 11:52 am

ISLAMABAD (92 News) – Pakistan has achieved another success to get rid of Financial Action Task Force’s grey list as two important bills with amendments have been endorsed by the National Assembly’s standing committee on finance and revenue. The Foreign Exchange Regulation (Amendment) Bill, 2019, and the Anti Money Laundering (Amendment) Bill, 2019, will be … Read More