Mashaba calls for action against banks involved in rand manipulation

Reading Time: < 1 minute

ActionSA president Herman Mashaba has called for consequences against banks involved in the rand manipulation.

Mashaba was reacting to the recent findings by the Competition Commission.

The commission has found that several banks colluded to manipulate the rand exchange.

Mashaba says law enforcement agencies need to work urgently to hold those involved accountable.

He was speaking during an oversight visit to the Beitbridge border post in Musina, Limpopo.

“When people break the law, you have to allow the criminal justice system to be free to persecute without fear or favour, you can be a big bank, you manipulate our money there must be consequences.”

VIDEO:  Commission calls for tougher penalties on banks: