- One bank was charged for violating three sections of the Banking Act
- Another was charged for not declaring large cash transactions
- A third bank escaped with a warning
The Bank of Botswana (BoB) has charged four banks for contravening various sections of the Banking Act and the Financial Intelligence (FI) Act over the past year, The Business weekly & Review has established.
Consequently, a monetary penalty amounting to P85 973.90 was imposed on three banks while one bank escaped with just a caution.
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