Suspicious transactions: Banks/DFIs told to provide information to LEAs

The State Bank of Pakistan has directed banks and development finance institutions (DFIs) to cooperate with law enforcement agencies through timely supply of information under a new paragraph (4) incorporated in Regulation M-3 of Prudential Regulations for Corporate/Commercial Banking which is as under.
"The banks/DFIs should provide timely information related to suspicious transactions to domestic law enforcement agencies (LEAs), sought in terms of legal powers available to them under their respective laws in order to support investigations/prosecutions", says BPRD Circular Letter No 7.