Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
Banks
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
Grey-listing will have ‘muted’ impact on SA’s banks, says S&P
South Africa’s possible grey-listing will have a “muted” impact on the country’s banking sector, although local banks might suffer some reputational risk and could face higher compliance costs, according to S&P Global Ratings. […]
Ombudsman sets out what consumers should know about prescription
The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant […]
Policyholders, investors ‘should be extra vigilant’ following TransUnion data breach
The Association for Savings and Investment South Africa (Asisa) has cautioned policyholders and investors to expect an increase in phishing attempts and approaches from criminals impersonating representatives from life insurers and investment companies […]
South African Banking Sentiment Index 2020 – Banks fail social media response test horribly
New entrants, African Bank and Discovery Bank, claimed the first and last positions respectively in BrandsEye’s annual South African Banking Sentiment Index. In its fifth year of producing the Index, BrandsEye collected more […]
South African Banking Sentiment Index 2020 – Banks fail social media response test horribly
New entrants, African Bank and Discovery Bank, claimed the first and last positions respectively in BrandsEye’s annual South African Banking Sentiment Index. In its fifth year of producing the Index, BrandsEye collected more […]
The FSCA and Cybercrime
Cybercrime continues to evolve, with new threats surfacing every day. Last year an Accenture study revealed a huge spike in cyberattacks on all fronts – banks, Internet service providers (ISPs), utilities and ecommerce […]
Conduct Standard for Banks – About disclosures and how it aligns to TCF
The Financial Sector Conduct Authority (FSCA) recently published a Conduct Standard for banks along with a document detailing its expected impact and a report on the consultation process. “Over the past decade a […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Cyber attacks on banks – No threat to customers
SABRIC, the South African Banking Risk Information Centre, last week confirmed that the banking industry has been hit by a wave of ransom driven Distributed Denial of Service (DDoS) attacks, targeting various public-facing […]
Cyber attacks on banks – No threat to customers
SABRIC, the South African Banking Risk Information Centre, last week confirmed that the banking industry has been hit by a wave of ransom driven Distributed Denial of Service (DDoS) attacks, targeting various public-facing […]
National Credit Amendment Bill – Why the banks are concerned
Last week, President Cyril Ramaphosa signed the controversial National Credit Amendment Bill into law. In short, the legislation will provide debt relief for consumers who earn R7 500 per month or less and have […]
National Credit Amendment Bill – Why the banks are concerned
Last week, President Cyril Ramaphosa signed the controversial National Credit Amendment Bill into law. In short, the legislation will provide debt relief for consumers who earn R7 500 per month or less and have […]
Draft Conduct Standard for Banks – Aims to promote fair treatment of customers
The FSCA has just released a Draft Conduct Standard for Banks. The objective of the document is to introduce requirements that promote the fair treatment of financial customers of banks. The draft Conduct […]
South African best banks – Digital agility key to success
Forbes recently partnered with market research firm Statista to measure the best banks in nearly two dozen countries, including South Africa. The banks were rated on overall recommendation and satisfaction, as well as […]
