December 15, 2016/Reuters

South Africa’s central bank has imposed fines on the local branch of France’s Société Générale and Barclays Africa’s retail banking unit Absa over weaknesses in their measures to combat money laundering and the financing of terrorism, it said on Thursday.

It however said the two banks, fined 2 million rand ($143,000) and 10 million rand respectively, had not been found to have facilitated transactions involving money laundering or the financing of terrorism.