DAR ES SALAAM: Tanzania’s central bank said on Monday it had fined five commercial banks for breaching the country’s anti-money laundering regulations.
The banks hit with the regulatory penalties are African Banking Corporation Tanzania Ltd, Equity Bank Tanzania Ltd, I&M Bank Tanzania Ltd, UBL Bank Tanzania Ltd. and Habib African Bank Ltd.
The Bank of Tanzania said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).”
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