Amendments to Schedule 1 of the Financial Intelligence Centre Act have expanded the list of people and businesses who are now ‘accountable institutions’ under the legislation. What does this mean for nonprofits and smaller businesses selling goods?
May 20, 2021
As many parts of the world deal with the Third Wave of Covid-19 infections, there are growing concerns that South Africa may face harsher lockdown measures in the future as the country ramps up its vaccine rollout program.
This will have a telling impact on society and will only accelerate the reliance on e-commerce business models as the public prioritises their health and safety.
Unfortunately, this also means that there will be a challenging, risk-driven environment ahead of us when it comes to fraud.
This was highlighted at the Southern African Fraud Prevention Service (SAFPS) & Insurance Crime Bureau International Fraud Summit which was held virtually yesterday (19 May 2021).
As many parts of the world deal with the Third Wave of Covid-19 infections, there are growing concerns that South Africa may face harsher lockdown measures in the future as the country ramps up its vaccine roll out program.
This will have a telling impact on society and will only accelerate the reliance on ecommerce business models as the public prioritizes their health and safety. Unfortunately, this also means that there will be a challenging, risk driven environment ahead of us when it comes to fraud. This was highlighted at the Southern African Fraud Prevention Service (SAFPS) & Insurance Crime Bureau International Fraud Summit which was held virtually on 19 May 2021.