September 23, 2019 / 5:51 AM / 23 days ago

Tanzania fines five banks for lax anti-money laundering controls

DAR ES SALAAM, Sept 23 (Reuters) - Tanzania’s central bank said on Monday it had fined five commercial banks for breaching the country’s anti-money laundering regulations.

The banks hit with the regulatory penalties are African Banking Corporation Tanzania Ltd, Equity Bank Tanzania Ltd, I&M Bank Tanzania Ltd, UBL Bank Tanzania Ltd and Habib African Bank Ltd.

The Bank of Tanzania said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).” (Editing by Hereward Holland)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below