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Tanzania fines five banks for lax anti-money laundering controls

Tanzania's President John Magufuli. FILE PHOTO | NMG

By  REUTERS

Dar es Salaam

Tanzania’s central bank said on Monday it had fined five commercial banks over $800,000 (Sh83 million) for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector.

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