The Index flags Africa as a testing ground for ransomware and DDoS attacks. High incident volumes and ‘ransomware-as-a-service’ models raise insurance, compliance, and continuity costs for businesses.
ESC’s online Micro-Credentials give professionals hands-on skills in cybersecurity, AI, DEI, and more, helping them respond to real-world challenges.
While submissions of the mandatory Risk and Compliance Return improved over the past year, 30% of institutions targeted by the FIC’s directives had not complied by March 2025
Requests for reports from the FIC rose by 17% in 2024/25, reflecting the FATF’s pressure on South Africa to strengthen its anti-money laundering efforts.
The Authority signs an agreement with SABRIC and the Southern African Fraud Prevention Service to enable a faster system-wide response to scams.
New criteria require closer supervisory scrutiny of DNFBPs on market entry, ongoing oversight, and high-quality suspicious-transaction reporting.
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.
Financial fraud drained $485.6 billion from the global economy in 2023 – an amount so large, it would place fraud among the world’s top 35 economies if it were a country.
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.
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.
Five investors sought to recover their money, but the High Court ruled their funds were part of an illegal operation and must be forfeited to the state.
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
Authorities have convicted six individuals in the VBS Mutual Bank fraud case, including former executives and municipal officials. However, with 29 accused still on trial and 43 more suspects under investigation, the case is far from over.
Scammers are preying on Banxso investors, promising to recover lost funds for a fee, the FSCA warns.
The Digital and Financial Forensic Analysis Centre’s latest project is serving subpoenas electronically to obtain bank records.
The industry lost at least R175.9 million last year but prevented losses of R1.5 billion through enhanced detection efforts, says ASISA.
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
