Access Bank and Sava aim to transform small-business banking in SA
Sava, a fintech startup backed by Access Bank South Africa, has received regulatory approval to launch a digital banking platform tailored to SMEs.
#financialservices
Telegram groups impersonating Truffle and Vista Wealth
Impersonators are using the names of authorised financial firms, Truffle Asset Management and Vista Wealth Management, to defraud people.
FSCA warns of deepfake fraud featuring Patrice Motsepe
AI-generated media make it seem as if one of South Africa’s richest people is endorsing an ‘investment’.
Godongwana defends the banks’ right to close accounts
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
Social media scam peddles fake RE5 exam certificates at a discount
Fraudulent RE5 exam certificates were recently advertised on Facebook, sparking a public warning from the FSCA about regulatory exam fraud.
US financial company’s name hijacked in impersonation scam
The FSCA says the scammers are also misusing the FSP number of a Bloemfontein-based financial planning business.
Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
The surge in fraud underscores the urgent need for stringent compliance measures to protect clients and maintain trust amid rising threats.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
FSCA crypto licensing update: more than 240 CASPs approved
Of the 420 CASP licence applications received, nine were declined, while 106 applications were voluntarily withdrawn.
MBSE promotion on NQF qualifications closes tomorrow
Enrolling in selected NQF qualifications by 10 December will result in 50% off the first module, adding significant value to the entire course.
‘Enhanced member engagement’ yields higher inflows for Alexforbes
Profit from operations increased by 13% despite higher operating expenses attributed in part to implementing the two-pot system.
Santam to acquire stake in MultiChoice’s insurance business
Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.
Repeat offender hit with R1m fine and 15-year debarment
Mareo Nel resumed unauthorised forex trading despite signing an enforceable undertaking in 2021.
FSCA flags unauthorised investment schemes and funeral policies
An entity must be authorised by the FSCA and the Prudential Authority to issue insurance policies in South Africa.
FSCA slaps R2.2 million in fines on FSPs for FICA violations
The FSCA highlights the role of RMCPs in safeguarding financial institutions and the financial system after compliance breaches by two FSPs.
Sanlam partners with Ninety One in R400 billion asset deal
Ninety One will acquire Sanlam Investment Management and oversee investment management for Sanlam Investments UK.
Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
