FSCA licenses most crypto provider applicants – as enforcement tightens
The rising number of investigations and inspections underline a shift from registration to active supervision.
#FinancialIntelligenceCentreAct
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.
FICA compliance webinars for crypto firms
The FSCA has uploaded recordings of its five-part webinar series aimed at helping CASPs meet their FICA obligations.
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.
Ii-FSPs ezigwetyelwe ukusilela kwe-FICA – zohlwaywe zonke imali engange-R700 000
I-FSCA ifumanise ukuba zombini iifemu azinabuchule bokulawula umngcipheko, kubandakanywa ii-RMCPs ezinqongopheleyo, inkuthalo ephantsi yabathengi, kunye nokusilela ukuhlola ngokuchasene noluhlu lwezohlwayo.
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.
High Court rules on SARS’s R5.3bn claim against Sasfin Bank
The judgment dismissed parts of Sasfin’s exceptions and left SARS’s statutory claim under the Financial Sector Regulation Act to proceed.
Last chance to book for Moonstone’s compliance webinar
The agenda includes the OMNI-Risk Return, COFI, FICA Business Risk Assessments, and practical cyber-resilience guidance.
From OMNI-Risk to cyber risk – don’t miss Moonstone’s compliance webinar
Registration is open for Moonstone Compliance’s Regulatory Update Webinar on 12 November.
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.
SARB sanctions money transfer service for FICA non-compliance
The South African Reserve Bank cites deficiencies in Access Forex’s RMCP, customer verification, and staff training.
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.
Slow RCR submissions highlight gaps in anti-money laundering compliance
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
Financial intelligence reports drive R144m in crime recoveries
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.
FSPs sanctioned for FICA failures – fines totalling R700 000
The FSCA found both firms lacked effective risk management capabilities, including deficient RMCPs, poor customer due diligence, and failures to screen against the sanctions lists.
‘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.
