Pensioner claims cryptocurrency trader could have stopped fraud
The High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Read moreThe High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.
A high-value good is an actual physical item, and facilitating the trade of high-value goods does not make one a HVGD.
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
The reasons for the sanction are virtually identical to those that saw the Authority fine an FSP earlier in February.
There is a webinar for legal practitioners, trust and company service providers, estate agents, and high-value goods dealers.
Implementing – not merely creating – a Risk Management and Compliance Programme is crucial to ensure compliance with the Act.