Prudential Authority Punishes ‘People’s Favourite Bank’ Capitec after Identifying Compliance Flaws
21h
Capitec Bank, one of South Africa’s most widely used retail banks, has been hit with R28 million in administrative fines after the Prudential Authority identified shortcomings in the bank’s compliance with the country’s financial intelligence laws. Last Friday, the Prudential Authority (PA) said the sanctions followed an inspection conducted at Capitec in 2023 as part […]
