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Competition Commission names 'currency colluders'

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Johannesburg – Rogue traders implicated in a currency collusion case have been named in an affidavit filed by the Competition Commission.

On Wednesday the commission referred the case to the Competition Tribunal for prosecution against 17 banks. These include three local banks: Absa, Standard Bank and Investec.

The complaint was initiated on April 1 2015 and amended on August 31 2016 to include more banks, said Mfundo Ngobese, who submitted the application on behalf of the commission’s cartel division.

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