OFAC fines national bank of Pakistan for sanctions violations

OFAC has fined the New York Branch of National Bank of Pakistan $28,800 for 7 wire transfers it made to an entity on OFAC’s list of Specially Designated Nationals, totalling $55,952.14. The fine settles the bank’s potential civil liability for the violations. The transfers were made to Kyrgyz Trans Avia, an airline headquartered in Bishkek, Kyrgyzstan. The bank’s sanctions compliance...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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