Banxso v FSCA over links to deepfake adverts
The Authority challenges Banxso’s claim that it is not connected to Immediate Matrix’s deepfake adverts.
FIC
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NCA Credit providers’ FICA obligations
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Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
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Webinars on how to investigate misconduct and address poor performance
FSCA refutes claim of Banxso licence reinstatement amid ongoing investigation
The liquidation application against Banxso claims that the number of clients deceived by the deepfake adverts is far greater than previously reported.
Uncloaking the mysteries of financial sector penalties
The huge penalties imposed by the FSCA and the Prudential Authority raise questions about the clarity and consistency of the factors influencing these fines.
SA racing against February deadline if it wants to exit grey list by mid-2025
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
Should all tokens be equal in the crypto market?
As the regulatory framework develops, many questions remain – particularly around whether all tokens, from fungible coins to unique NFTs, will be regulated the same way.
FIC to launch inspections on CASPs amid growing regulatory scrutiny
The Financial Intelligence Centre’s sector final risk assessment report for crypto asset service providers is set to be published in the new financial year.
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
Moonstone Compliance’s beneficial ownership webinar is fully booked
Please send us an email if you want to access the recording of the webinar.
Legal practitioners reminded to comply with the Financial Intelligence Centre Act
The Financial Intelligence Centre sets out legal practitioners’ obligations under the FIC Act.
FIC publishes finalised guidance on beneficial ownership
Public Compliance Communication 59 has been issued following two rounds of public consultation.
FIC report on how accountable institutions can identify money mule activity
The Centre’s analysis found the extensive use of shell companies to host and conceal fraudulent funds.
Unlicensed crypto and OTC derivative providers in FSCA’s crosshairs
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
FIC invites comments on its draft risk assessment report for crypto asset service providers
The inherent risk of money laundering and terrorist financing for CASPs in South Africa is high, the report says.
The most common reason FSPs got into FICA trouble
The main reason the FSCA fined FSPs in terms of the Financial Intelligence Centre Act (FICA) last year was for failing to implement a risk management and compliance programme (RMCP), the Financial Intelligence […]
FIC reporting failure guidelines issued
The Financial Intelligence Centre (the Centre) has issued Public Compliance Communication 50 (PCC 50), which provides guidance and clarity on the measures a reporter must take to mitigate the loss of intelligence data […]
FIC reporting failure guidelines issued
The Financial Intelligence Centre (the Centre) has issued Public Compliance Communication 50 (PCC 50), which provides guidance and clarity on the measures a reporter must take to mitigate the loss of intelligence data […]
