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Scammers at work … from VAT fraud to fake invoices
Lieutenant General Godfrey Lebeya details the cases involving financial crimes investigated by the Hawks.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreLieutenant General Godfrey Lebeya details the cases involving financial crimes investigated by the Hawks.
Once the draft amendments to the Money Laundering and Terrorist Financing Control Regulations are enacted, failure to submit the required Cash Conveyance Report could lead to imprisonment for up to 15 years or fines of up to R100 million.
The inherent risk of money laundering and terrorist financing for CASPs in South Africa is high, the report says.
The administrative sanctions are the result of an inspection conducted by the Prudential Authority three years ago.