South AfricaThe Financial Intelligence Centre of South Africa issued a press release highlighting the recent statement by the Financial Action Task Force on high-risk jurisdictions with strategic anti-money laundering, counterterrorist financing and proliferation financing deficiencies.
The Financial Intelligence Centre of South Africa published its 2019-2020 annual report, focusing on partnerships to assist in combating financial crime.
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 : 87/141 |
| Score : 4.83/10 |
| Rank : 70/180 |
| Score : 44/100 |
| Rank : 58/133 |
| Score : 56/100 |