Legal
South African Central Bank Fines HSBC for Lax Money Laundering Controls
The Prudential Authority, operating within the South African Reserve Bank, has imposed administrative sanctions on HSBC Bank Plc Johannesburg Branch (HSBC) for noncompliance with aspects of the Financial Intelligence Centre Act 38 of 2001, as amended. The FIC Act mandates the PA, in terms of section 45, to supervise and…
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