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Johannesburg - Deutsche Banks says it has fully co-operated with the SA Reserve Bank after a branch in Johannesburg was slammed with a R10m fine for inadequate controls against money laundering and terrorism financing, City Press reported on Sunday.
The fine did not mean the bank had facilitated these acts, but Sarb inspectors had found weaknesses in the bank's adherence to legislation to deal with such crimes.
Problems were found with the identification and verification of customer details and the detection of assets of those possibly associated with terrorism.
