Did SA banks comply to report suspicious state capture transactions, FIC

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The Financial Intelligence Centre should urgently review if South African banks complied with their obligation to report billions worth of suspicious state capture transactions laundered through their financial systems. The recommendation is on the back of a finding that the Guptas used 12 local money-laundering entities to move R8.8 billion from South Africa to overseas money laundering companies based in Hong Kong and China.

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