FICA cross-border cash provisions take effect on 1 July
A proclamation brings into operation a set of dormant provisions that link cross-border cash reporting to criminal penalties and forfeiture powers.
Cash
Are South Africans ready for the digital payment revolution?
The South African Reserve Bank’s inaugural Payments Study Report provides extensive insights into how the public perceives and uses various payment methods and instruments.
South Africa eyes stricter reporting laws for cross-border cash movements
Once the draft amendments to the Money Laundering and Terrorist Financing Control Regulations are enacted, failure to submit the required Cash Conveyance Report could lead to imprisonment for up to 15 years or fines of up to R100 million.
‘Geopolitical tensions shouldn’t mean diluting your offshore exposure’
Diversification, including offshore diversification, and other basic long-term investing pillars should not be disregarded because of volatility caused by geopolitical events, says Kondi Nkosi, the country head of asset manager Schroders in South […]
Cash replaces loo paper as hoarding continues
In a thought provoking article titled “First it was loo roll, now it’s cash”, Ben Kumar, a senior investment strategist at 7IM, discusses cash hoarding by clients as a result of not being […]
