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Automated Transaction Monitoring System – FIC provides clarity on timeframes

In a recent LegalBrief post Pam Saxby of Legalbrief Policy Watch shares that the Financial Intelligence Centre (FIC) requires comment on the latest draft (PCC 107) public compliance communication – regarding the use of an automated transaction monitoring system to detect potentially ‘suspicious and unusual activities’. According to Saxby, the document’s purpose is to provide […]

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Single portal for all insurance complaints – Aims to ease process for clients

In an effort to assist complainants who are unsure where to lodge an insurance complaint, a new gateway has been launched. The introduction of the additional point of entry for complaints relating to insurance products coincides with the establishment of a joint Ombudsman for long-term (life) and short-term (non-life) insurance complaints from 1 January 2020. […]

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Techno-innovation – Cyber threats a possible obstacle

The latest Intergovernmental Fintech Working Group (IFWG) report highlights that increasing cyber threats present a material obstacle to the progress possible through technological advancements. According to Danny Myburgh, Association of Certified Fraud Examiners’ Cyber Forensic Forum for South Africa, the most dominant types of cyber threats encountered are a combination of computer incidents and fraud. […]

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Raging Bulls – Smaller companies challenge big players

The 24th edition of the Raging Bull Awards took place last week in Cape Town at the International Convention Centre. The annual ceremony celebrates the top performers across a range of sectors and acknowledges investment managers in terms of top outright performers, best risk-adjusted performers and the best unit trust management companies. MiPlan, a small […]

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CMS Quarterly report – Key trends compared

The Council for Medical Schemes (CMS) has just published its quarterly report for the period ended 30 September 2019. Tasked with monitoring the financial performance and soundness of medical schemes, the CMS publishes comparative figures on a quarterly basis. Here is a brief summary of the key trends: Accumulated funds and solvency levels The overall industry average […]

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Momentum/UNISA Household Net Wealth Index – South Africans substantially poorer on paper

South African households’ real net wealth declined by a staggering R237 billion in the third quarter of 2019, according to the Momentum/UNISA Household Net Wealth Index. In a CNBC Africa interview, Johann van Tonder, Researcher & Economist at Momentum, attributes the decline to the result of geo-economical events and the depressed economy in South Africa. South […]

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Social Media Influencers – Also impacting financial decisions

Influencer marketing refers to the promotion of goods and services by individuals who have influence or power to affect the buying decisions of potential customers. A recent American study has recently found that Social Media Influencers are also impacting financial decisions. According to the research, fifty-eight percent (58%) of Americans follow some type of social […]

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