Fake traders, false promises, and fraudsters abusing big names
From Facebook investment scams to impersonators posing as Sygnia’s CEO, the FSCA has issued multiple warnings against unauthorised operators.
Author: Moonstone Information Refinery
How to keep kids safe from online scammers this holiday season
Essential rules and insights to empower youngsters, ensuring they navigate the internet confidently and securely.
CODI hits R20bn target in first year of operation
With systems in place and 95% of depositors fully covered, CODI is stepping up its readiness to handle a potential bank failure.
Top achievers share how MBSE’s Advanced Certificate helped them level up in financial planning
Emily Broodryk, Elisha Govender, and Francesca Taylor recommend the qualification to financial advisers who want to deepen their expertise.
Revival of Road Accident Benefit Scheme gains momentum
The RABS Bill promises faster, no-fault compensation but has previously been criticised for limiting victim rights and excluding vulnerable groups.
Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
Tribunal upholds R1m fine and 15-year debarment for unlicensed trading
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Insurers using tech to beat scammers at their own game
Beyond one-off fakes, syndicates are exploiting AI to reuse damage photos and cloned invoices across multiple claims.
South Africans’ ‘retirement plans’ driven by unrealistic assumptions
FNB survey also finds that most under-60s expect to work beyond their retirement age, with only 10% planning a full stop.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
Customary vs civil marriage: court rules they cannot co-exist
Judge dismisses claim both marriages are valid, sending dispute back for further evidence on the customary marriage’s existence.
Consumers adjusting insurance covers to cope with rising cost of living
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
SCA: purchasers bear the risk of cyber-fraud when paying by EFT
If a buyer transfers funds after relying on altered invoice instructions, the contractual obligation remains unfulfilled until the seller’s nominated account is actually credited.
Old Mutual’s risk benefit payouts rise by 4.3% to R14.7bn
The ‘big four’ illnesses made up 73% of severe illness claims; cancer alone accounted for 68%, driven by breast and prostate cancers.
Consumers caught in hidden debt trap as ombud flags unfair practices
From hidden VAS fees that quietly inflated balances to wrongful fraud listings, the NFO Credit Division’s interventions have secured millions in write-offs.
Bestmed marks sixth year of membership growth
Despite economic headwinds and high claims ratios, Bestmed grew net membership by 4.4% in 2024, bolstered by strong solvency and a R164.4m surplus.
Tribunal upholds strict timing for FSP debarments
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
