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Fed orders Pakistan-based United Bank Ltd. to toughen money laundering policies

Reuters  |  WASHINGTON 

(Reuters) - The Federal Reserve on Thursday ordered United Limited to toughen its anti-policies as the regulator faulted the Pakistani for not doing enough to track suspicious transactions.

The Thursday order is at least the second time that the Fed has sanctioned the Pakistan-based in recent years.

In 2013, the Fed ordered United Bank to closely monitor remittances from to and faulted the bank's anti-oversight.

(Reporting by Johnson)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 09:59 IST
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