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Hefty fines for Deutsche Bank, Capitec

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Deutsche Bank (File, AP)
Deutsche Bank (File, AP)

Update: This article has been updated with Capitec's response.

Johannesburg - South Africa has fined Germany's Deutsche Bank R10m ($857 743) for not having appropriate anti-money laundering measures, the central bank said on Friday.

The central bank also said in a statement that it fined a local bank Capitec Bank [JSE:CPI] R5m for failing to comply with security laws.

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