Tanzania: Central bank seizes lender

Tanzania’s central bank had taken over the management of a bank accused by the US of large-scale money laundering, it said on Friday. The decision comes after the Central Bank of Cyprus placed two branches of FBME Bank under its control following a report from the US Treasury’s Financial Crimes Enforcement Network describing the bank as a “primary money laundering concern”. Tanzania’s central bank said took control of FBME on Thursday. – Reuters