A National Risk Assessment (NRA) report on money laundering and terrorist financing has revealed that the Reserve Bank of Malawi sanctioned commercial banks for violating some anti-money laundering provisions.

The report, launched by the Financial Intelligence Authority (FIA), noted that in 2016, one commercial bank was given a warning letter for non-compliance of on-site examination and AML/CTF requirements, while another bank paid a K30million penalty for failing to implement the AML/CTF on-site examination recommendations.

However, the report did not mention the banks that violated the laws, but it has revealed that there has never been a court trial for the law violations.