FSCA fines two financial firms R1.2 million for FICA compliance failures
Risk management failings, inadequate customer due diligence, and lack of senior management oversight are key lessons for the industry.
Author: Moonstone Information Refinery
Banking sector providing the Hawks with tools to combat financial crime
The Digital and Financial Forensic Analysis Centre’s latest project is serving subpoenas electronically to obtain bank records.
Ramaphosa calls on private sector to end appointments of Bain and McKinsey
The Presidency is not happy with McKinsey’s appointment as a supporting partner to the B20 or Bain’s running the Energy Council’s project management office.
Allan Gray lodges complaint over ‘imitation’ Nedbank advert
Allan Gray argued that Nedbank’s ‘Time is more valuable than money’ campaign infringed upon its intellectual property.
Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
The surge in fraud underscores the urgent need for stringent compliance measures to protect clients and maintain trust amid rising threats.
Black Friday 2024: South African shoppers go digital amid record spending
Consumers defied economic pressures this Black Friday, with banks processing billions in transactions and setting new records. Digital payments took centre stage, highlighting a significant shift in consumer behaviour.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
Fidentia scandal: end of the road for trust’s case against Old Mutual?
The Constitutional Court dismisses an application for leave to appeal against the Supreme Court of Appeal’s ruling in favour of Old Mutual Unit Trust Managers.
How MBSE’s top students conquered the Postgraduate Diploma in Financial Planning
The Postgraduate Diploma attracts individuals who embody resilience, self-discipline, and a relentless pursuit of excellence. The top students prove that with the right mindset, structured planning, and flexible learning, professionals can overcome any obstacle.
FSCA crypto licensing update: more than 240 CASPs approved
Of the 420 CASP licence applications received, nine were declined, while 106 applications were voluntarily withdrawn.
Insurance sector proves resilient amid global uncertainty
Industry leaders at the IAIS annual conference unpack key risks facing the global insurance market, including the impacts of rising interest rates, geopolitical threats, and the growing role of AI.
Jewellery insurance: don’t let warranty clauses take you by surprise
The FAIS Ombud warns that failing to adhere to warranty clauses – such as storing jewellery in a safe when not worn – can significantly reduce claim payouts.
Dimension Data Campus case: a landmark test for corporate governance
The High Court’s ruling emphasises the duty of directors to disclose conflicts of interest and highlights the importance of complying with corporate and B-BBEE laws.
Godongwana signals gradual approach to NHI funding
Progress with implementing National Health Insurance will be contingent on the fiscal situation.
FSCA withdraws decades-old guideline on surplus submissions
After more than 20 years, the Authority is withdrawing Circular PF No. 127, which aimed to streamline surplus submissions for retirement funds in the termination process.
Beat the traffic: the best times to hit the road this holiday
The temptation to speed may be high as you head to your holiday destination. But Discovery Insure’s research shows that speeding not only saves very little time but also increases the chance of accidents.
FIC cracks down on RCR defaulters: R10 000 fine today, bigger sanctions tomorrow
Accountable institutions that did not pay the smaller fine or remediate their non-compliance now face harsher penalties.
