South Africa’s privileged access to the US market under the African Growth and Opportunity Act (AGOA) is at risk due to concerns over its ties with Russia, which could result in significant financial losses and impact its exports. In 2022,…
Beneficial ownership is a crucial aspect of corporate governance that helps promote transparency and combat financial crimes such as money laundering and terrorist financing. To rectify the shortcomings identified by the FATF, leading to the inclusion of South Africa in…
In the wake of the 2008 global financial crisis, a mysterious digital currency called Bitcoin emerged as a beacon of hope, promising a decentralised and transparent financial system. Created by an anonymous figure using the pseudonym Satoshi Nakamoto, Bitcoin has…
Cryptocurrencies have revolutionised the world of finance, offering new opportunities and challenges. To ensure the responsible and secure use of these digital assets, South Africa is introducing ground breaking legislation to regulate crypto asset service providers (CASPs). In this blog…
There have been many alarmist headlines about this subject and while the political dynamics surrounding South Africa’s alignment with Russia during the Ukraine conflict have significant implications for its economy, we would like to look at a realistic view of…
To begin, you need to understand who the Financial Action Task Force (FATF) is and what they do. They are an intergovernmental organisation that was established in 1989 to combat money laundering, terrorist financing, and other financial crimes. FATF sets…
In the world of international money transfers, there are two major players: the traditional SWIFT system and the disruptive force of blockchain technology. As a forex money transfer business, we want to take you on a journey to understand these…
We have put together this overview to bring clarity to the SARS Tax Compliance Status Process enhancements that is causing some undue concerns. These are changes in process and not in regulation, so you can let out that breath you…
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