Tag: FICA
Life insurers’ AML blind spots leave door open to launderers
Banks have long borne the brunt of regulatory scrutiny over anti-money laundering (AML) controls, but life insurers handling large premiums are increasingly attracting the...
South Africa’s CDD bar rises after FATF greylist exit
Customer due diligence (CDD) has grown from a simple know your customer (KYC) exercise into one of the most demanding parts of the anti-money...
The hidden price of AML failure goes far beyond fines
Regulatory heat is intensifying across South Africa's financial sector, and headline-grabbing AML fines are only part of the story. A multi-million-rand penalty makes for...
South Africa’s illegal gambling AML blind spot exposed
Responsible gambling messaging is ubiquitous across sport sponsorships and social media campaigns, yet South Africa's sprawling informal gambling market continues to operate largely unchecked....
Can South Africa close its property money laundering gaps?
Luxury property across Africa has long been a magnet for illicit financial activity. From offshore residences used for tax evasion to the seizure of...
Adapting to Directive 8: A comprehensive guide for accountable institutions
Financial service providers, estate agents, and attorneys operating in South Africa face a critical challenge: aligning their processes with Directive 8.
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