Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Industry News
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
Accidental confession leads to conviction in insurance pay-out murder
A woman and her accomplice were each sentenced to 26 years in prison for murdering her uncle so she could benefit from his life cover.
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
The China bazooka stimulus: risk assets melt up?
Interest rate cuts, infrastructure bonds, and a revitalised stock market – China’s new stimulus package is poised to impact global investment strategies.
Accountancy body’s chief executive dismissed after forensic investigation
SAIPA’s board has terminated CEO Shahied Daniels after findings of serious misconduct, including unauthorised international dealings and financial irregularities.
First Steinhoff conviction: insider trader avoids jail but must testify against accomplices
Dr Gerhard Burger, who travelled with Steinhoff directors to oversee their health, pleaded guilty to three counts of insider trading.
Personal loan surge: originations up 16.7% as lenders balance risk and demand
With credit card originations growing by 9.3% and Gen Z leading the charge, 38% of new credit cards were issued to first-time cardholders – the highest proportion since early 2020.
Court freezes R1.5m linked to alleged pyramid scheme targeting vulnerable consumers
Promising groceries in exchange for a once-off payment, WAPH is under fire for violating the Consumer Protection Act with deceptive promises and recruitment incentives.
Unpacking pink tax: a hidden burden on women’s finances
Sanlam’s Pink Tax survey found that 24% of women reported that pink tax affects their choices in selecting financial products, services, and providers.
Investigation into ‘fruitless and wasteful expenditure’ continues as RAF bleeds another R1.6 billion
The investigation into the Road Accident Fund has uncovered a significant rise in default judgments, accumulating to R4.7 billion from 2018 through the second quarter of 2023.
Power surge: South Africans face potential 36% electricity bill hike
Eskom’s MYPD 6 revenue application indicates that the projected 36.15% price increase for FY2026 results from 10 new Negotiated Pricing Agreements, past regulatory decisions, rising coal-based energy costs, increased operating expenses, and an impending carbon tax.
Customer sentiment towards insurers improves despite claims frustrations
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
Municipal officials face prison for contempt in pension fund case
Retirees, should be especially vigilant against three common scams: phishing and its more targeted version, spearfishing; deepfakes; and the Grandparent scam, which uses voice cloning.
Two-pot retirement system: a new playground for cybercriminals as FraudGPT fuels the threat
: Retirees, should be especially vigilant against three common scams: phishing and its more targeted version, spearfishing; deepfakes; and the Grandparent scam, which uses voice cloning.
