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Incorrect Officially and unofficially it is related to money laundering and from 2006 onwards to 2012/2013 period where 4000 transactions have occurred with out following protocol of US treasury and on investigation thru law enforcement agencies these may have used in terror financing . Its time we Pakistanis should end conspiracy theories to end ,The bank have been given warning over serious breach of US protocol of banking over a decade but some how HBL always prefer the corrupt and connected ones to US branch some analyst predict that if HBL Branch can run properly from US this branch can pay the debt with in one year from its alone operations . Stop blaming every thing on othersOfficially? Money Laundering.
Unofficially? A political action to apply pressure on Pakistan. It's mostly a bluff, because all it does is reinforce the view that Pakistan's economy is less and less dependent on the US.
Why only a fine? I suspect that Wall Street probably didn't want a bank, even a foreign one, to end up facing criminal charges, because that would probably lead to a lot of domestic banks also facing the same.
This is New York State, not Federal Banking. New York state regulation is a joke and everyone know it.
Incorrect Officially and unofficially it is related to money laundering and from 2006 onwards to 2012/2013 period where 4000 transactions have occurred with out following protocol of US treasury and on investigation thru law enforcement agencies these may have used in terror financing . Its time we Pakistanis should end conspiracy theories to end ,The bank have been given warning over serious breach of US protocol of banking over a decade but some how HBL always prefer the corrupt and connected ones to US branch some analyst predict that if HBL Branch can run properly from US this branch can pay the debt with in one year from its alone operations . Stop blaming every thing on others
worship me or i will destroy you . USA as alwayswhat is the reason of such huge fine.
Does Pakistani citizen living in Saudia can able to transfer money in US$ to Pakistan through Al Rajahi Bank.worship me or i will destroy you . USA as always