The South African Reserve Bank (SARB) has imposed administrative sanctions on Nedbank for failing to comply with some administrative requirements of the Financial Intelligence Centre Act (FICA).
Customers look on outside Nedbank, after the bank closed due to load shedding, at the Mall of the South in Johannesburg, South Africa, March 17, 2019.Customers look on outside Nedbank, after the bank closed due to load shedding, at the Mall of the South in Johannesburg, South Africa, March 17, 2019.
The bank imposed financial penalty of R35-million, of which R15-million has been conditionally suspended.
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