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‘Geographic location and the structure in which our accountable institutions operate affects their risk of being exploited for money laundering or terror financing – it is critical information for us’: Pieter Smit, acting director of the Financial Intelligence Centre.
While the latest crime statistics show a broad-based decline in reported crimes across most categories in South Africa, white collar crime has continued to rise, with no sign of slowing down.
From the Desk of the President …
South Africa and Nigeria are poised to exit a global financial watchdog’s “grey list” as soon as next month, marking a change in fortune for two of the continent’s biggest economies.
The SA Reserve Bank says the threat of being excommunicated from SWIFT is more likely to focus on certain individuals rather than the country as a whole, but we should not take this lying down, says 80eight CEO Faadil Moti, as the experiences of Russia and Iran show that events can escalate quickly.