The central bank has also fined a local bank Capitec Bank for failing to comply with security laws.
Under the law, banks are required to have verifiable customer identity details and to also report cash transactions above USD 2000 to the Financial Intelligence Centre, which fights the funding of terrorism.
Deutsche confirmed in a statement that it did not fully comply with law.
Capitec - which failed to report cash transactions above USD 2000 - said that it did not comply with the cash threshold outlined by the law.
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