Draft amendments aim to remedy gaps in AML framework
The Bill largely clarifies and strengthens existing AML/CFT expectations rather than introducing a new regulatory philosophy.
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Draft AML/CFT amendment Bill tightens regulatory net
The Bill proposes that arrangements yielding outcomes similar to traditional financial products be treated as financial services.
FIC urges businesses to simplify compliance: ‘focus on risks, not paperwork’
Accountable institutions should adopt practical, risk-based RMCPs tailored to their operations, rather than relying on lengthy templates.
Kickbacks crackdown: regulators target estate agent-conveyancer inducements
The PPRA and LPC tighten enforcement as complaints surge over referral incentives, early commissions, and covert ‘gift economy’ deals.
Ukwandisa Ukufikelela Kuqeqesho Lokuthotyelwa (Compliance Training): I-MBSE Isungule iKhosi ye-FICA CPD nge-siXhosa
Ikhosi yokuqala ye-MBSE’ ye-CPD kwi-siXhosa yenza uqeqesho lokuthotyelwa (compliance training) lufikeleleke ngakumbi ngemathiriyeli eguqulelweyo, izihlokwana (subtitles) , kunye novavanyo.
PA fines Discovery Bank R3m for FICA compliance failures
A 2021 inspection found late submission of suspicious activity reports, inadequate staff training, delayed monitoring responses, and shortcomings in the bank’s RMCP.
Exiting the grey list won’t relax oversight – regulators pledge continued enforcement
The authorities say that supervision, prosecutions, and measurable outcomes must continue to avoid re-listing as the next mutual evaluation starts in 2026.
Infrastructure investor fined R1.7 million for FICA breaches
The FSCA identified serious lapses in Harith General Partners’ risk management, client due diligence, sanctions screening, and employee vetting.
Sanlam Collective Investments hit with R10.6m FIC Act penalty
Despite the FSCA’s findings of RMCP gaps, SCI confirms that client funds remain secure and no money laundering or terrorist financing was detected.
Expanding access to compliance training: MBSE launches FICA CPD course in isiXhosa
MBSE’s first CPD course in isiXhosa makes compliance training more accessible with translated material, subtitles, and assessments.
‘Appropriate’ and ‘adequate’ – two words that will shape SA’s next FATF review
New criteria require closer supervisory scrutiny of DNFBPs on market entry, ongoing oversight, and high-quality suspicious-transaction reporting.
FSPs brace for tougher scrutiny as risk-based AML compliance takes centre stage
As South Africa prepares for a tougher FATF evaluation, FSPs must master risk-based compliance – balancing security, cost, and strong partnerships to target real threats and protect legitimate customers.
Staying ahead of regulatory change: why ongoing training is non-negotiable
As regulatory enforcement escalates, MBSE’s specialised FICA, POPIA and NCA short courses provide financial professionals with the most practical way to stay compliant, avoid costly penalties, and build lasting client trust.
FATF completes on-site assessment of SA’s anti-money laundering reforms
The Financial Action Task Force’s Plenary in October will decide whether to remove South Africa from the grey list.
Do fines deliver justice for victims of financial misconduct?
The FSCA’s success in collecting penalties remains uneven because of several structural and legal challenges.
FSCA gears up for tougher enforcement as scams and misconduct rise
From funeral policy breaches to crypto non-compliance and weak AML measures, the regulator’s latest report outlines its key priorities – with online harm topping the list.
FICA compliance: FSP turns a R500k sanction into a learning curve
The owner of MIKA Finansiële Dienste shares four key takeaways after successfully remediating the deficiencies in its RMCP.
