Banks fork out R277m in fines for non-compliance with Fica, Tito Mboweni says
The fines and penalties are issued by the Reserve Bank’s Prudential Authority
08 September 2020 - 22:11
Registered banks have had to fork out R277m in fines and penalties for their failure to comply with legislation aimed at combating money laundering and the financing of terrorism in the six years between January 2014 and December 2019.
This was revealed on Tuesday by finance minister Tito Mboweni in a written reply to a parliamentary question by DA MP Dennis Ryder...
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