Global crime index reveals ‘significant expansion’ of financial crimes
South Africa has the seventh-highest criminality score in the world and the third-highest in Africa, according to the Global Organized Crime Index.
grey list
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
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Treasury gives the FIC a R265m boost to fight financial crime
The Centre has launched a new forensic unit to assist law enforcement combat complex money-laundering cases.
Monday briefing: a round-up of recent financial services news
Bank staff allegedly helped gold smugglers | FIC gets forensic unit | Ramaphosa on exiting the grey list | OUTsurance boosts stake in Youi
Prosecutions and jail time ‘is the test SA must pass to get off the grey list’
Intellidex cautions against putting false confidence in exact numbers of the economic impact of grey-listing.
Thursday briefing: a round-up of recent financial services news
New limits for allowances | Grey-listing will last ‘for years’ | Grey-listing, blackouts ‘eroding SA’s status’ | Rand manipulation case.
How is grey-listing likely to affect South Africa?
No surprise as the Financial Action Task Force adds SA to its list of countries under special scrutiny.
Treasury responds to FATF action plan for SA to fix its ‘dirty money’ problems
Treasury expects grey-listing will have ‘a limited impact’ on financial stability and the costs of doing business with South Africa.
EXPLAINER: How did South Africa end up on the grey list?
What you should know about the Financial Action Task Force, its evaluation of South Africa, and how grey-listing works.
FSCA wants ‘honesty and integrity’ Joint Standard to apply to the significant owners of FSPs
The FSCA is proposing that significant owners of FSPs become subject to the honesty and integrity requirements of Joint Standard 1 of 2020, saying the amendment is required urgently to prevent South Africa […]
Too soon to panic about grey-listing?
Is it a “done deal” that South Africa will be placed on the Financial Action Task Force’s grey list next year? There are those who think it is, and therefore advisers should engage […]
MPs insist on due process for Fica amendments aimed at avoiding grey-listing
Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the […]
Clock is ticking for SA to avert something ‘worse than junk status’
There will be dire consequences for the economy if South Africa’s measures to combat money laundering and terrorism financing are not brought up to international standards this year, the Financial Intelligence Centre (FIC) […]
