SA Reserve Bank sanctions five banks over weak money-laundering controls
The five banks are co-operating and have agreed to address the deficiencies
20 December 2019 - 19:08
The SA Reserve Bank has imposed administrative sanctions on five banks for weaknesses in their money-laundering control measures and ordered them to take remedial action, it said in a statement on Friday.
The five are Standard Bank, GroBank (formerly the SA Bank of Athens), the Bank of China’s Johannesburg branch, Ubank and HBZ Bank. ..
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