Standard Bank to Hire Compliance Officers After Fines, Fraud
Source: BFW (Bloomberg First Word)
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SBK SJ (Standard Bank Group Ltd)
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Simpiwe Tshabalala (Standard Bank of South Africa Ltd/The)
Simon Ridley (Standard Bank Group Ltd)
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(Bloomberg) -- Standard Bank plans to hire more compliance officers in order to comply with rules aimed at preventing money laundering, fraud, co-CEO Sim Tshabalala says at co.’s AGM in Johannesburg.
Alert: HALISTER1- Co. has 400 compliance officers
- Standard Bank increased compliance staff by about 300, director Richard Dunne says
- Compliance team did self-assessment throughout African operations: Dunne
- Co. has paid about $140m in charges over 2 yrs for penalties, losses related to Chinese warehouses: Finance Director Simon Ridley
- NOTE: Standard Bank last yr agreed to $36.9 million settlement after employees bribed govt officials in Tanzania; co. last wk said it lost as much as 300m rand to sophisticated fraud syndicate in Japan
Source: BFW (Bloomberg First Word)
Tickers
SBK SJ (Standard Bank Group Ltd)
People
Simpiwe Tshabalala (Standard Bank of South Africa Ltd/The)
Simon Ridley (Standard Bank Group Ltd)
To de-activate this alert, click here
UUID: 7947283