The decisions to convict these entities for particularly serious offences in the misdemeanour proceedings against them were published on the BNA website.
The heaviest fine was imposed on Yetu Bank, in the amount of one billion kwanzas, with the regulator considering that the institution had breached its obligations of “diligence and abstention when establishing business relations with counterparties”.
“Serious deficiencies in the Internal Control system were also highlighted, particularly the insufficient allocation of resources for risk control and management, segregation of responsibilities and mitigation of conflicts of interest, as well as the lack of autonomy and independence of control functions”.
The BNA imposed a fine of 330.4 million kwanzas on the Banco de Comércio e Indústria (BCI) for failure to comply with the obligations of risk assessment, identification and due diligence, enhanced due diligence measures, as well as the obligation to abstain, within the scope of the rules and procedures for preventing and combating money laundering, financing of terrorism and proliferation of weapons of mass destruction.
João da Costa Ferreira (Former Chairman of the Executive Committee of Banco YETU) was also sanctioned by the BNA, who will have to pay one hundred million kwanzas and will be prohibited from performing relevant functions or being a member of corporate bodies in financial institutions for a period of three years.
The issue is “failure to comply with the Code of Conduct for Interbank Markets, as well as the duty of sound and prudent management of the financial institution”.
