The Financial Intelligence Centre of South Africa released a report outlining the inherent terrorist financing risks in the nation.
Following a consultation process, South Africa’s Financial Intelligence Centre issued guidance concerning the risk management and compliance program for designated nonfinancial businesses and professions.
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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 |