The pound will be driven by Brexit negotiations, Carney says
Oil Jumps After US Gasoline Stockpiles Plunge to 22-Month Low
Bankruptcy Approaching For Toys 'R' Us
Moriya Jutanugarn fires 68 to lead 2nd round at Evian major
Nike releases all new National Basketball Association 'statement edition' alternate jerseys at media event
US Shuts Down Pakistan's Habib Bank on Charges of Terror-Funding
09 September 2017, 02:51 | Kenneth Drake
Pakistan's Habib Bank to pay $225m New York fine
The New York Department of Financial Services (DFS) on Thursday announced a fine of Dollars 225 million on Pakistan's Habib Bank Limited (HBL) and its New York branch for failure to comply with New York laws and regulations designed illicit financial transactions.
Financial Services Superintendent Maria T. Vullo announced the fine on September 7 after finding weaknesses in the bank's risk management and compliance and the bank's failure to undertake extensive remedial actions.
"The bank has repeatedly been given more than sufficient opportunity to correct its glaring deficiencies, yet it has failed to do so".
Habib Bank claimed on Thursday that the fine and the closure of its NY operations would have no impact on its businesses in other countries.
The New York Department of Financial Services ordered Habib to surrender its license to operate in the state after discovering it failed to comply with a number of laws.
State financial regulators have fined Pakistan-based Habib Bank $225 million and forced it to shutter its New York City branch for failing to comply with New York's anti-terrorism and money laundering laws.
According to NY regulators, Habib Bank facilitated billions of dollars of transactions with a Saudi private bank - Al Rajhi Bank - which reportedly has associations with Al-Qaeda. In 2006, the United States authorities had ordered the bank to tighten its oversight of potentially illegal transactions but it failed to comply.
The review showed HBL had failed to properly screen thousands of transactions and had processed payments for known criminals and sanctioned entities, among other failings.
In addition the bank improperly used a "good guy" list to rubber stamp at least $250m in transactions, including those by an identified terrorist and an global arms dealer, regulators said.
The probe revealed that a "substantial number of parties were improperly included" on the list and that "at least $250 million in transactions have flowed through the New York Branch without any screening due to the apparent improper inclusion on the so-called "good guy" list".
The fine, which is the largest ever imposed upon a Pakistani bank by regulatory authorities, has to be paid within 14 days.
Until April 2015, Pakistan's government held a 42.5 per cent stake in HBL, the country's oldest bank.
"All charges have been dropped following this consent order", said a senior bank officer who did not wish to speak for attribution.
Kate Middelton and Prince William are expecting baby #3
The Duchess of Cambridge was hospitalised with the condition while pregnant with both Prince George and Princess Charlotte . Kate and William married in a lavish ceremony in 2011 watched by about two billion people around the world.
Windows 10 Redstone 3 Build 16273 — Hands On
So all in one, there will be a plenty of small builds of Windows 10 S OS available for different types of testers. Instead, you can use your laptop's rear camera to take a picture and project the 3D object into the scene.
Rohingya crisis: Suu Kyi blasts 'misinformation'
The Indian government is concerned about Rohingya immigrants in the country, and has been considering to deport them. Raveesh Kumar, External Affairs Ministry spokesperson, had tweeted a few images of Kyaw welcoming Modi.
Removed from PUP list
When the Colts kicked off training camp back in July, the team placed Luck on the physically unable to perform list . In his two seasons in Indianapolis , Dorsett had 51 receptions for 753 yards and three touchdowns for the Colts.
Nigeria out of recession in Q2, 2017
Household final expenditure came to 4.7% for the quarter, with the bulk of spend (26.7%) going towards clothing and footwear. In South Africa, GDP expanded 2.5% from the previous quarter, ending the second recession in nearly a decade.
Nadal Breezes Into US Open QFs
Thiem, who was forced to quit with an injury against del Potro at the same stage in 2016, celebrated his 24th birthday on Sunday. The No. 1 seed is back into the quarters in Flushing Meadows for the first time since 2013, when he won his second of two U.S.
Fire Outbreak In School not an Accident
Several students shared this narrative, but the Nation could not authenticate it independently. I sleep in the one adjacent to the one where the fire started.
Manson Family Killer One Step Closer to Freedom
Later, she stabbed Rosemary La Bianca over a dozen times in addition to holding a pillowcase over her head as others stabbed her. If the decision stands, the matter will be sent to office of the Governor who will have 30 days to take one of five options.