No RMCP, no excuse: FSCA fines three FSPs a combined R735 000
One of the sanctioned FSPs says it’s important to request virtual meetings with the FSCA after each feedback round to ensure all compliance expectations are met.
#greylist
SA leads in anti-money laundering in the real estate sector
The OREO Index, developed by leading anti-corruption experts, assesses the robustness of real estate data and anti-money laundering laws.
AML/CFT | Strict enforcement will be the new normal
The need to get South Africa off the grey list has seen the FSCA beefing up its supervisory and licensing capacities.
FSCA discloses approach to regulating a rapidly changing financial sector
Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
SA won’t get off the grey list in June – Treasury now aiming for October
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
Bill proposes wide-ranging changes to strengthen AML regime
The amendments to the Companies Act, FICA, and the Financial Sector Regulation Act are designed to close regulatory gaps and enhance enforcement.
Banking sector providing the Hawks with tools to combat financial crime
The Digital and Financial Forensic Analysis Centre’s latest project is serving subpoenas electronically to obtain bank records.
SARB warns of the risks if SA fails to exit the grey list by June 2025
The bank’s Financial Stability Review also flags the growing financial distress among households and SMMEs and the vulnerabilities in the commercial real estate sector.
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.
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.
Exiting the grey list before June 2025 is unlikely, says Treasury
The FATF did not discuss removing SA from the grey list but focused on the progress the country has made in addressing the 22 Action Items.
More prosecutions essential to getting off grey list, says Treasury’s Momoniat
The absence of a successful prosecution of anyone named in the Zondo report is a big concern, Business Times reports.
Bad analysis feeds mistrust in SA’s financial system, says Kganyago
The governor of the Reserve Bank also says he is confident the country will get off the grey list in 2025.
Prosecution challenges threaten South Africa’s exit from FATF grey list
The National Prosecuting Authority Amendment Bill will play a pivotal role in bolstering South Africa’s prosecution capabilities, says CDH’s Louis Botha.
