Former FNB employee sentenced to prison for R6.4m fraud
The syndicate gained unauthorised access to two accounts belonging to a German national on multiple occasions.
Industry News
‘Do not panic, look out for opportunities, but stick to your risk budget’
The US economy is giving off mixed signals, and the big question is whether it will slip into a recession or manage a soft landing.
Liberty asks for prison term for ‘threatening and derogatory’ email campaign
The man persisted with his abusive emails despite being found in contempt of court twice and being sentenced to a period of direct imprisonment.
Lara Warburton: from unplanned paths to financial planner of the year
The 2023 FPI Financial Planner of the Year reflects on her career and shares some advice for young professionals entering the industry.
Momentum’s NHI cost estimate is ‘mathematical hooliganism’, says Health Minister
Aaron Motsoaledi wants to engage with with stakeholders who are in favour of universal health coverage but have objections to the NHI Act.
Two-pot retirement system – don’t be the weakest link
As the two-pot retirement system goes live on 1 September, intermediaries must prepare to guide clients through the new structure.
Sasfin fined R160m for ‘non-compliance’ by discontinued forex business
The bank also faces a R4.9bn claim arising from SARS’s alleged inability to collect taxes and penalties from former foreign exchange clients.
Why younger drivers choose higher car insurance excesses
Understanding how an excess works can help to strike a balance between minimising risks and saving on premiums.
Navigating insurance policies: how brokers can help prevent claim rejections
Tarina Vlok, MD of Elite Risk Acceptances, explains the importance of educating policyholders about their insurance coverage and exclusions.
Why retirement fund trustees should pay attention to the newly signed Companies Amendment Bills
The Companies Amendment Bills impose crucial changes to remuneration disclosure and shareholder approval that trustees must integrate into their governance practices.
Will medical schemes adhere to an inflation-linked tariff hike?
The Council for Medical Schemes has advised medical schemes to limit their contribution increases for 2025 to 4.4% plus ‘reasonable’ utilisation estimates.
How the two-pot system may impact household income and inflation
Economists assess the possible impact of the reforms on household consumption, real fixed investment, inflation, government debt, and GDP growth.
How bank errors and unseen fees impacted customers
The OBS’s 2023 annual report unveils chargeback disputes, hidden fees, and administrative failures.
National Consumer Tribunal fines more second-hand car dealers for violating consumers’ rights
The Consumer Protection Act prescribes that consumers receive goods that are fit for their intended purpose, of good quality, and durable for a reasonable time.
Medical scheme placed under statutory management as reserves plummet
The deterioration in Sizwe Hosmed’s reserves is attributed to ‘benefit under-pricing and historically unreliable budgetary and forecasting processes’.
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Bid to have RAF CEO sentenced to ‘suspended imprisonment’ for unpaid debts fails
A challenge to the RAF’s failings must consider the complex inter-governmental duties on which the social security scheme depends, judge says.
