Landmark conviction under the Cybercrimes Act
A former employee of Ecentric Payment Systems receives an effective five-year term for orchestrating a multi-million-rand cyberattack.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
FSCA urges financial institutions to verify CPD providers
The Authority says an entity called LearnOn was found to have issued invalid certificates linked to the Financial Planning Institute.
Ramaphosa deepfake scam highlights rising threat of AI-driven investment fraud
Not even South Africa’s president has been spared as scammers use deepfake videos of public figures to promote bogus investment schemes – prompting fresh warnings from the FSCA about social media scams, impersonations, and unauthorised financial services.
Financial institutions should prepare for ‘more demanding’ AML/CFT review
The FATF’s mutual evaluation in April 2027 will drill down into how well AML/CFT measures work in practice rather than just ticking technical boxes.
FSCA suspends FSP’s licence after third Ombud determination
The beneficiaries waited months to be paid their funeral policy benefits, but they received only partial pay-outs despite undertakings to the contrary.
SA nears grey list exit after complying with all 22 action items
South Africa now awaits an on-site visit by the FATF Africa Joint Group – paving the way for an anticipated exit from the grey list at the October plenary.
Compliance trumps empowerment: decision to deregister co-operative bank upheld
The Tribunal agrees with the Prudential Authority that Women Building our Africa failed to meet the registration conditions and governance benchmarks.
No shortcut to dismissing foreign nationals without work visas
A valid work permit may be absent, but fair labour procedures must still be followed.
Reappointment, not a stopwatch: Tribunal on FSP debarment durations
Unlike FSCA-imposed bans with fixed terms, debarments driven by an FSP stay in force until another FSP is convinced a rep is Fit and Proper.
OMNI-CBR will be embedded in new supervisory technology platform
Financial institutions are advised to pause their internal Conduct of Business Return initiatives pending further communication from the FSCA.
Expect the FSCA to call – heightened AML/CFT oversight ahead
What the Authority expects from financial services providers when it conducts Financial Intelligence Centre Act inspections.
Alexforbes sharpens retail focus as it posts double-digit growth across key metrics
Alexforbes has launched Alexforbes One, its third umbrella fund and first designed for both internal consultants and IFAs, marking a major step in its strategy to strengthen ties with advisers.
SCA remits case dealing with protection of insurance benefits from insolvency claims
At issue is whether a death benefit received by a surviving spouse is protected from the creditors of an insolvent joint estate.
Adjudicator asks FSCA to act against ‘unresponsive’ retirement fund
Muvhango Lukhaimane says the SALA Pension Fund’s refusal to engage with her Office’s enquiries constitutes a breach of the fund’s fiduciary obligations.
‘Droom Troue’: Tribunal orders R500 000 in penalties and refunds
The National Consumer Tribunal rules the Droom Troue competition was a sham, ordering refunds and fines after couples were misled into paying for a prize that never existed.
High Court slams RAF for wasting millions on ‘chaotic’ cases
Judge says the fund’s failure to send lawyers to court or provide them with instructions is leading to default judgments.
Court clarifies NCA application to suretyships in vehicle finance case
Sureties cannot rely on the National Credit Act if the principal debt falls outside its scope.
