Reserve Bank fines HSBC for poor controls preventing money laundering, terrorism

2018-11-09 19:14

The SA Reserve Bank's Prudential Authority has disciplined HSBC Bank Johannesburg for weaknesses in its processes that prevent the bank from "proactively detecting potential money laundering and the financing of terrorism".

Unclear whether 72 'Gupta transactions' are being investigated

2017-08-23 21:00

There has been no indication yet whether 72 suspicious transactions worth R6.8bn with which the Gupta family is connected, will be investigated further.

SA banking sector is concentrated, says Coovadia

2017-07-18 05:00

Having a concentrated banking sector is not necessarily a weakness and having four major banks adds weight to the soundness of the financial sector, says BASA managing director Cas Coovadia.

PPF vows to head to court to challenge FICA

2017-06-18 07:07

The Progressive Professionals’ Forum has promised to challenge the recent signing of the Financial Intelligence Centre Amendment Act by Finance Minister Malusi Gigaba.

Gigaba signs FIC Amendment Act

2017-06-13 17:44

Finance Minister Malusi Gigaba has signed and gazetted various provisions of the Financial Intelligence Centre Amendment Act, says National Treasury.

Fica gets on the road

2017-05-14 06:36

Finance Minister Malusi Gigaba is this week going to announce a road map for how the new amended Financial Intelligence Centre Act (Fica) will be implemented.

No timeframe yet for FICA implementation - Cabinet

2017-05-11 14:53

Communications Minister Ayanda Dlodlo says the finance minister is consulting all stakeholders who will oversee the amended FICA, but there is no clear timeframe yet for implementation.

FICA bill: Accountants unhappy about searches

2017-02-12 16:01

The SA Institute of Professional Accountants has reservations about the provision for warrantless searches in the Financial Intelligence Centre Amendment bill.

SA banks becoming battleground in Zuma war - analysts

2017-01-27 06:29

South Africa’s banking sector is becoming a battleground between President Jacob Zuma’s patronage-driven ANC and those opposing that faction, according to two analysts.

‘Court capture’ crusader says FIC Bill is in breach of Constitution

2017-01-22 13:46

A legal reform campaigner fighting 'court capture' has told Parliament that the Financial Intelligence Centre Amendment Bill is in breach of the Constitution.

 

Fica-smart app eases pain of financial compliance

2018-02-06 11:48

Complying with the Financial Intelligence Centre Act can be time-consuming for financial services providers. Start-up DocFox has come up with a solution that makes the process less painful.

Banking industry withstanding economic shocks - Coovadia

2017-07-18 18:27

The banking industry remains profitable despite tough economic conditions, but matters could improve, according to banking association MD Cas Coovadia.

FIC will be costly for banks and consumers

2017-07-17 19:47

Complying with the Financial Intelligence Centre Act will be costly for banks and it will impact consumers, says representatives of the Banking Association of South Africa.

FICA battle is far from over, says DA

2017-06-13 21:29

The battle over the implementation of the Financial Intelligence Centre Amendment Act is far from over, says the Democratic Alliance, which is calling for a hearing into the matter.

UPDATED: Bank threatens to close Zuma’s wife’s account – report

2017-06-11 17:49

Absa bank has threatened to close the bank account of President Jacob Zuma’s wife, Tobeka Madiba-Zuma over suspicious flows, according to a report.

5 HOT TOPICS: Land, rand, FICA and dark side of online games

2017-05-11 17:39

This week saw two prominent economic leaders warning against calls to seize land, saying it would not lead to economic transformation and requires more nuanced planning.

PPF vows to fight FICA in ConCourt

2017-05-01 22:50

The Progressive Professionals Forum has promised to challenge the newly approved FICA bill in the Constitution Court.

EFF throws weight behind FIC Bill

2017-01-27 14:27

The Economic Freedom Fighters says South Africa’s Financial Intelligence Centre Amendment Bill is needed to fight crime and illicit flows into the country.

Heated public hearings into FIC Bill

2017-01-25 10:23

A Parliamentary committee is conducting public hearing into the controversial FIC Bill that has been sent back to Parliament by President Jacob Zuma.

Bank bombshell: The Guptas won't run away - lawyer

2016-12-15 21:58

Every allegation against the Gupta family, by banks who stopped doing business with them, will be dealt with in detail, says lawyer Gert van der Merwe.

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