South AfricaThe Parliament of South Africa announced that it approved a new legislation to combat money laundering and terrorist financing.
The South Africa Financial Sector Conduct Authority issued a press release relating to its declaration on regulating cryptocurrencies.
Mexico authorizes U.S. seizure of drug kingpin’s assets, German FIU faces new STR backlog, and more, in the weekly roundup.
Danske Bank will likely pay billions of dollars to settle AML violations in the U.S. and elsewhere, compliance officer settles whistleblower lawsuit with JPMorgan Chase, and more, in the weekly roundup.
Midweek Roundup: Crypto Firms Drive European Surge in STRs, US Charges Chinese Spies, and More
The South African Reserve Bank imposed a R35 million fine on the Sandton, South Africa-based bank for anti-money laundering and counterterrorist financing deficiencies related to risk management and enhanced due diligence controls.
The Financial Intelligence Centre of South Africa fined ACS Pre-Owned Ltd. R255,575 and separately penalized Atlantis Motors Ltd. R672,526 for various anti-money laundering violations.
| Technical | Effectiveness |
|---|---|
| Compliant : 3 | High : 0 |
| Largely Compliant : 17 | Substantial : 0 |
| Partially Compliant : 15 | Moderate : 8 |
| Non-Compliant : 5 | Low : 3 |
| Rank : 87/141 |
| Score : 4.83/10 |
| Rank : 70/180 |
| Score : 44/100 |
| Rank : 58/133 |
| Score : 56/100 |