Certain types of legal entities, such as companies, trusts, and partnerships, can be particularly susceptible to misuse by criminals due to their structure or inherent characteristics....
Uniting Against Financial Crime in South Africa: A Call for Collaborative Action
Allowing financial criminals to operate in our economy will have severe repercussions. From corroding business integrity and investor confidence to fuelling broader corruption, violence,...
South Africa Faces ‘Perfect Storm’ of Financial Crime, Ready to ‘Fight Back’
Only by prioritising a concerted crackdown that brings all stakeholders together can the country arrest the spread of financial criminality.
Buying a snazzy watch or car? This is how FICA rules will impact the deal
Dealers of high-value goods such as art, cars, commercial vehicles, machinery and even jewellery must adhere to the Financial Intelligence Centre Act (FICA) regulations targeting financial...
Upholding Accountability: The Impending 2024 South African Elections and the Financial Intelligence Centre Act (FICA)
As South Africa gears up for the 2024 general elections, one significant aspect under the spotlight is the Financial Intelligence Centre Act (FICA) and its mandate on organisations to...
DocFox is now nCino - here is what to expect
On the 18th of March, 2024 -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, announced that they would be acquiring DocFox. nCino is a...
Draft Directive 9: Travel Rule Relating to Crypto Asset Transfers
The Financial Intelligence Centre (FIC) recently issued a Draft Directive 9 that will require Accountable Institutions that engage in crypto asset transfers for or on behalf of their...
The Significance of FICA Compliance: Why it Matters to All of Us
With a staggering 2 - 5% of global GDP, equivalent to around $800 billion - $2 trillion, being laundered annually, the imperative for robust anti-money laundering and counter...
The Reality of Financial Crime in South Africa: Where do we stand and what can we do?
The greylisting of South Africa (SA) in 2023 by the Financial Action Task Force (FATF) was a wake up call to many who may not have realised the prevalence of financial crime in the country....