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Why launderers see life insurance as South Africa’s soft target
Banks have long carried the heaviest anti-money laundering (AML) burden, but regulators are increasingly turning their attention to life insurers. Handling large premiums over...
FICA pressure turns CDD into a make-or-break test
Customer due diligence (CDD) in South Africa has grown from a basic know your customer (KYC) exercise into one of the most demanding parts...
Why an AML fine is only the start of the real...
Regulatory fines dominate the headlines, but for South African institutions caught out by AML failures, the printed penalty is only the opening chapter.
According to...
Instarc lands €1.25m to expand RegTech platform in South Africa
Tallinn-based RegTech provider Instarc has secured €1.25m in strategic investment to accelerate the commercial rollout of its cloud-native compliance platform in South Africa, targeting...
South Africa insurers lose R131.6m to AML blind spots
Insurance houses across South Africa are pouring money into anti-financial crime tools, yet heavy spending alone is not solving the problem. Effectiveness, particularly at...
Why weak IDV could cost FICA-accountable firms millions
Onboarding a new customer might look like routine business, but for compliance officers it has become one of the most scrutinised moments in the...
Hidden AML risks in South Africa’s informal gambling sector
While responsible gambling messaging floods sports broadcasts and social media feeds, South Africa's sprawling informal gambling market continues to operate largely unchecked.
According to RelyComply,...
South Africa’s property market faces AML wake-up call
Luxury property across Africa has long been a magnet for illicit financial activity. From offshore residences used for tax evasion to the seizure of...
