The four major South African banks.

Johannesburg - The South African Reserve Bank said on Wednesday that it had had fined the country's top four banks a total R125 million over lax anti-money laundering controls.

The central bank said in a statement that it had fined the South African unit of Barclays (Absa) R10 million, FirstRand R30 million, Nedbank R25 million and market leader Standard Bank R60 million.

“The administrative sanctions are not an indication that the banks in question have in any way facilitated transactions involving money laundering and the financing of terrorism,” the central bank said.