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Nedbank fined R20m in South Africa for sweep of AML flaws

South African deposit-taker Nedbank Limited will pay a R20m (US$1.22m) administrative penalty for wide-ranging breaches of the country’s Financial Intelligence Centre Act 38 of 2001.

South African deposit-taker Nedbank Limited will pay a R20m (US$1.22m) administrative penalty for wide-ranging breaches of the country’s Financial Intelligence Centre Act 38 of 2001.

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