New York Branch of Pakistan’s Largest Bank Faces $630 million Penalty for Alleged AML Violations

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Friday, September 1, 2017

Author:

Zarine Kharazian

Volume:

33

Issue:

9

Abstract:

On August 24, the New York State Department of Financial Services (DFS) announced that it plans to fine the U.S. branch of the Pakistan-based Habib Bank up to $630 million for a series of anti-money laundering violations dating back to 2006.