Firm action against FSPs for non-compliance with AML requirements

In recent weeks, we have seen a number of administrative sanctions being imposed by the Financial Sector Conduct Authority (FSCA) on entities for their failure to comply with certain provisions of the Financial Intelligence Centre Act (FIC Act).
A year of being grey(listed)

It’s been a year since the global watchdog the Financial Action Task Force (FATF) put South Africa on a grey list for failing to meet international standards with regards to anti-money laundering, combating the financing of terrorism and proliferation financing.
Healthy Dose of Perspective

We are all aware of the problems we experience in South Africa, but they are not exclusive to us. “What is always of interest is how similar the challenges are that we all face – in spite of the varying regulatory regimes, differing markets and political climates.” says Samantha Williams, Head of Legal & Regulatory Affairs at the FIA. In this article, she gives us a healthy dose of perspective.
Millionaires On The Move

“Most South African high-net-worth individuals who opt for investment migration do not have the objective of leaving the country,” notes Tarina Vlok, MD of Elite Risk Acceptances. Amid the growing trend of investment migration, she points out that understanding the reason behind the decision is key.
Hot Wheels

About 60 cars are hijacked daily in South Africa, according to South African police data. Brokers can help their clients mitigate theft of high-risk vehicles, says Precious Nduli, Head of Technical Marketing and Marketing at Discovery Insure.
Circle of Protection

SMMEs encounter a range of risks and uncertainties that require specialised insurance coverage. Support from expert financial advisers can be essential in helping understand these needs and putting in place comprehensive protection tailored for their businesses, says Dané Barnard, Business Development Manager at Elevate Life.
Windows Upgrade: Click Yes To Proceed

Cutting-edge technology in car windshields is enhancing driver safety. But using a trained and accredited installer is key. PG Glass explains why…
Smart Wheels

Telematics demand in South Africa is keeping pace with countries such as the US and Singapore, here’s why. Paul Visser, Principal Product Manager at Netstar, explains the exponential growth.
Courage Under Fire

The World Economic Forum’s Global Risks Report 2024 is a key pillar of the Global Risks Initiative, which works to raise awareness and build consensus on the risks the world faces, to enable learning on risk preparedness and resilience.
Fortune Favours the Bold

Did you know SMMEs make up 98% of formal businesses in South Africa? They’ve been called the backbone of the South African economy with good reason.