Mozambique’s central bank has fined South African banks a total of R13m for shortcomings in their antimoney-laundering and terrorism financing controls.

The administrative fines, which have become common throughout the world since the 2001 attacks in the US, come as Mozambique grapples with a storm of terrorist attacks in its northern province of Cabo Delgado that have left 100 people dead.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.