{"id":2379,"date":"2021-07-13T16:54:03","date_gmt":"2021-07-13T16:54:03","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=2379"},"modified":"2021-07-13T14:26:13","modified_gmt":"2021-07-13T14:26:13","slug":"mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices","title":{"rendered":"Mozambique central bank fines S.Africa\u2019s Standard Bank for fraudulent practices"},"content":{"rendered":"

Africa-Press<\/a> – Mozambique<\/a>. <\/strong><\/span>The central bank of Mozambique has fined Africa\u2019s biggest lender, Standard Bank, $4.6 million for engaging in fraudulent activities, Bank of Mozambique said on Monday.<\/p>\n

The central bank also fined two of Standard Bank\u2019s employees around $223,000 and $101,000 each, and barred the bank from engaging in some exchange-related activities for a year, it said in a statement.<\/p>\n

Standard Bank, which is based in South Africa, did not immediately respond to a request for comment.<\/p>\n

The central bank said following on-site inspections \u201cinfringement proceedings were brought against that bank (Standard Bank) and two of its managers \u2026 for serious breaches of a prudential and exchange rate nature.\u201d<\/p>\n

It alleged the bank and the two employees were involved in fraudulent manipulation of the exchange rate, implementing an illegal payments network based outside the country, and carrying out irregular operations of financial derivatives, among other offences.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The central bank of Mozambique has fined Africa\u2019s biggest lender, Standard Bank, $4.6 million for engaging in fraudulent activities, Bank of Mozambique said on Monday. The central bank also fined two of Standard Bank\u2019s employees around $223,000 and $101,000 each, and barred the bank from engaging in some exchange-related activities for a […]<\/p>\n","protected":false},"author":84,"featured_media":2377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-2379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique central bank fines S.Africa\u2019s Standard Bank for fraudulent practices - Mozambique<\/title>\n<meta name=\"description\" content=\"The central bank of Mozambique has fined Africa\u2019s biggest lender, Standard Bank, $4.6 million for engaging in fraudulent ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique central bank fines S.Africa\u2019s Standard Bank for fraudulent practices\" \/>\n<meta property=\"og:description\" content=\"The central bank of Mozambique has fined Africa\u2019s biggest lender, Standard Bank, $4.6 million for engaging in fraudulent ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-13T16:54:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/07\/img-60eda26eabe4e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"554\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique central bank fines S.Africa\u2019s Standard Bank for fraudulent practices\",\"datePublished\":\"2021-07-13T16:54:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\"},\"wordCount\":157,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/07\/img-60eda26eabe4e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-central-bank-fines-s-africas-standard-bank-for-fraudulent-practices\",\"name\":\"Mozambique central bank fines S.Africa\u2019s Standard Bank for fraudulent practices - 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