On 19 September 2021, President Cyril Ramaphosa authorised the release of the long-awaited report by the Special Investigation Unit (SIU) into the National Department of Health’s tender...
Understanding Money Laundering and Terrorist Financing
Oct 05, 2021
Money Laundering and Terrorist Financing are often used in the same sentence, and while there can be some similarities in terms of process, they are fundamentally distinct. Money...
A guide to identifying and reporting suspicious behaviours and transactions
Oct 05, 2021
“It’s not who I am underneath, but what I do that defines me.”- Bruce Wayne In the world of compliance the Financial Intelligence Centre (FIC) can be envisioned as the Batman of combating...
The most comprehensive DPIP database in South Africa
Sep 09, 2021
When discussing Anti-Money Laundering there has always been the concept of a Politically Exposed Person (PEP) which recognises that people in positions of power are more susceptible to...
The best FICA compliance partner for Law Firms
Aug 17, 2021
According to Schedule 1 of the Financial Intelligence Centre Act (FICA) law firms are classified as Accountable Institutions and so all lawyers, attorneys and law firms are subject to...
Why regulation is necessary for the crypto world
Jul 06, 2021
According to a Statista Global Consumer Survey, South Africa is among the top five countries in terms of cryptocurrency ownerships with 17.8% of respondents indicating they owned or used...
Why you should spend more time on adverse media
Jun 28, 2021
Adverse media can be defined as unfavourable information that can be found across a variety of news sources, including traditional newspapers, the internet, radio or television. ...
The cost of FICA non-compliance
Jun 24, 2021
The Financial Intelligence Centre Amendment Act 1 of 2017 (FICA) is worlds away from a simple add-on to your existing business procedures as it requires well thought out documented...
Legal Practice Council warns members of non-compliance
Jun 23, 2021
On the 17th of June 2021 the Legal Practice Council (LPC) issued an advisory to all legal practitioners in South Africa. The advisory detailed a report they had received from the...