Discovery Bank Fined R3 Million for FICA Compliance Failures
South Africa’s Prudential Authority sanctions Discovery Bank following AML/CFT compliance breaches The South African Prudential Authority (PA) has imposed an administrative penalty of R3 million on Discovery Bank Limited for breaches of the Financial Intelligence Centre Act (FICA), following a supervisory inspection that revealed deficiencies in the bank’s anti–money laundering (AML) and counter-financing of terrorism […]