South African Reserve Bank imposes administrative sanctions on Deutsche Bank AG Johannesburg Branch
Last Modified Date:
2021-04-01, 04:59 PM
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The South African Reserve Bank (SARB) has imposed administrative sanctions on Deutsche Bank AG - Johannesburg Branch (Deutsche Bank) and directed the bank to take remedial actions. The SARB found weaknesses in the bank’s money laundering control measures following an inspection conducted in 2019 in terms of the Financial Intelligence Centre Act 38 of 2001 (FIC Act).