Sasfin’s chief executive, Michael Sassoon, pointed out that this is a claim for damages and has nothing to do with Sasfin’s tax affairs. Sasfin has concluded that the claim will not result in the recognition of any liability and does not affect its capital position.
Not so long ago, the media was full of stories about the major local banks’ alleged manipulation of the rand and the dollar. But the topic of corporate corruption has not made it as far as party election manifestos – perhaps because it is unsuitable as a tool to play on voters’ emotions.
The greylisting of South Africa by the FATF has not only called into question the country’s ability in combating financial crimes, but also caused reputational damage and highlighted its failure to regulate flows of money through both traditional financial institutions and alternative financial forms such as cryptocurrencies.
Ndudane and Others v Financial Intelligence Centre (EC/01/22) [2024] ZAWCHC 38 polity.org.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from polity.org.za Daily Mail and Mail on Sunday newspapers.