7th September 2016
The Banking Association of South Africa, which represents the country’s biggest banks, wants President Jacob Zuma to pass the Financial Intelligence Centre Amendment Bill, which targets money laundering. “We have full faith in the South African Reserve Bank and we are happy with the FIC amendment bill,” said Basa’s Managing… Read More
31st August 2016
The chief financial officer and an executive manager in the Northern Cape department of economic development are being accused of running an elaborate corruption and money laundering scheme. This they did by allegedly setting up companies with front directors in order to get millions of rands in grants from the… Read More
23rd August 2016
The newly-elected Johannesburg Mayor Herman Mashaba has declared corruption enemy number one. He was elected mayor after the Economic Freedom Fighters (EFF) and smaller parties supported his nomination at the Johannesburg Metro’s inaugural meeting on Monday. The Democratic Alliance (DA)’s Kevin Wax was elected chief whip while the party’s Vasco… Read More
19th August 2016
The South African National Defence Force (SANDF) on Thursday, announced the suspension of 27 members for allegations of fraud and corruption. “The Chief of the SANDF General Solly Shoke places 27 members (19 uniformed and eight civilians) on leave on instruction who are working at the Army Support Base Limpopo… Read More
15th August 2016
Moody’s says the move by the South African Reserve Bank to fine five banks R35 million for not complying with the law is credit positive for SA’s rating status. SA is currently rated two notes above junk by Moody’s and one notch above non investment grade by S&P and Fitch. Read More
11th August 2016
South Africa’s parliament on Thursday began interviewing candidates to replace Thuli Madonsela, the head of a corruption watchdog whose findings undermined support for President Jacob Zuma and his administration and worried investors. Appointed by Zuma in 2009 for a seven-year, non-renewable term, Madonsela investigated several scandals involving Zuma which contributed… Read More
8th August 2016
The South African Reserve Bank (SARB) has imposed fines on five banks relating to weaknesses in control measures to combat money laundering. The penalties were imposed after the Reserve Bank conducted routine inspections in terms of the Financial Intelligence Centre Act (FIC Act) and found weaknesses in each of the… Read More
1st August 2016
President Jacob Zuma has told ANC supporters at a rally in Johannesburg that his party will root out all forms of corruption at the wards it wins in the August 3 elections. Zuma was speaking at the party’s final rally at Emirates Stadium on Sunday, saying the ANC will only… Read More
29th July 2016
Charges against Radovan Krejcir piled up on Thursday when he was charged alongside three other people for alleged involvement in a money-laundering scheme that defrauded the Central Bank of Swaziland of almost R7.6 million. This was after an investigation started in 2013 by the SAPS peaked on Thursday when prominent… Read More
20th July 2016
The International Monetary Fund has criticised efforts by government to reform the economy. Read More