Harsher Penalties for Trustees

Harsher Penalties for Trustees

CompliNEWS | Financial Service Intelligence Watch Department of Justice warns trustees of harsher penalties for non-compliance with amended Trust Property Control Act The Department of Justice has, in a statement, warned that trustees found guilty of not complying...
New 5% beneficial ownership threshold

New 5% beneficial ownership threshold

New 5% beneficial ownership threshold: Key updates and compliance actions under FICA regulations By Compli-Serve The Financial Intelligence Centre (FIC) has introduced important updates in its latest Public Compliance Communication (PCC-59) regarding Ultimate...
Data Protection Enforcement

Data Protection Enforcement

From CompliNEWS | Financial Service Intelligence Watch Compliance lessons from recent data protection enforcement cases around the world By Compli-Serve The Netherlands’ data protection authority fined Uber EUR 290 million for the unauthorised transfer of European...
The role of an influencer in financial planning

The role of an influencer in financial planning

From CompliNEWS | Financial Service Intelligence Watch The role of an influencer in financial planning By Lee Rossini An influencer is an individual who has the power to affect the decisions of others because of their authority, knowledge, position or relationship...
Navigating South Africa’s Cybercrimes Act

Navigating South Africa’s Cybercrimes Act

From CompliNEWS | Financial Service Intelligence Watch Navigating South Africa’s Cybercrimes Act In today’s technology-driven world, cybercrimes are increasingly affecting individuals, businesses and governments. Although cybercrime lacks a settled...
Key AML Compliance Takeaways

Key AML Compliance Takeaways

From CompliNEWS | Financial Service Intelligence Watch Key AML compliance takeaways from SARB’s administrative sanctions on Monarch Compli-Serve The South African Reserve Bank (SARB) imposed administrative sanctions on Monarch Insurance Company Limited (Monarch)...
FST Debarment Masela v Momentum Insurance Company

FST Debarment Masela v Momentum Insurance Company

From CompliNEWS | Financial Service Intelligence Watch Bongani Progress Masela v Momentum Insure Company Ltd (debarment set aside by the FST) Financial Services Tribunal (‘FST’ or ‘Tribunal’) The following matter was handed down by the...
Don’t blame us for greylisting, say estate agents

Don’t blame us for greylisting, say estate agents

Lawyers and estate agents have been accused by the Financial Intelligence Centre of holding up SA’s removal from the grey list. Here’s how some of them respond. By Ciaran Ryan Some estate agents have hit back at claims that they are holding up SA’s removal from the...