South AfricaThe Financial Intelligence Centre of South Africa announced the appointment of Director Xolisile Khanyile as one of two deputy vice-chairs to the Egmont Group of Financial Intelligence Units.
The Office of the Presidency of the Republic of South Africa outlined a virtual cabinet meeting on Aug. 5, 2020, where it approved setting up of a team of five ministers to examine all procurement related to the COVID-19 pandemic in light of reports of acts of corruption and theft.
Mexican FIU freezes hundreds of bank accounts, FinCEN details red flags of unemployment insurance fraud, and more, in the midweek roundup.
Danske Bank plans to shed 1,600 jobs, Citgroup fined for failing to manage risk, and more, in this week’s roundup.
The South African Reserve Bank issued sanctions against Standard Bank South Africa Limited, GroBank Limited, Ubank Limited, Bank of China, Johannesburg Branch and HBZ Bank Limited for anti-money laundering deficiencies and violations of the Financial Intelligence Centre Act.
The South African Reserve Bank’s Prudential Authority imposed a 400,000 rand fine on Durban, South Africa-based bank for failing to comply with the Financial Intelligence Centre Act 38 of 2001, including failing to properly comply with the cash threshold reporting requirement.
| Technical | Effectiveness |
|---|---|
| Compliant : 9 | High : |
| Largely Compliant : 14 | Substantial : |
| Partially Compliant : 19 | Moderate : |
| Non-Compliant : 7 | Low : |
| Rank : 84/125 |
| Score : 4.83/10 |
| Rank : 70/180 |
| Score : 44/100 |
| Rank : 58/133 |
| Score : 56/100 |