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Publication Details

Title :
South African Reserve Bank imposes administrative sanctions in terms of the Financial Intelligence Centre Act 38 of 2001, as amended
Published Date:
2021-09-17
Last Modified Date:
2021-09-17, 04:46 PM
Category:
Media > Media Releases | What's New

The South African Reserve Bank (SARB) has imposed administrative sanctions on two life insurers and directed them to take remedial action. The SARB found weaknesses in each of the life insurers’ money laundering control measures following inspections conducted in terms of the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act) during 2019.

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Attachments:
South-African-Reserve-Bank-imposes-administrative-sanctions-in-terms-of-the-Financial-Intelligence-Centre-Act-38-of-2001--as-amended.pdf