South Africa’s life insurance sector exhibited a moderate but persistent financial crime risk profile over the 2022–2024 period, reflecting the nature of life products that combine long-term savings, investment features and liquidity events. Inherent risk in the sector is largely driven by fraud, corruption, tax evasion and proceeds of organised ...
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South Africa’s banking sector remains a cornerstone of the domestic financial system, but the Prudential Authority’s latest Sector Risk Assessment confirms that it continues to face elevated money laundering, terrorist financing and proliferation financing risks, notwithstanding notable improvements in supervisory oversight and institutional controls. The assessment highlights that inherent money ...
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The European Commission has formally added Russia to the EU’s list of high-risk jurisdictions with strategic deficiencies in anti-money laundering and counter-terrorist financing controls. The decision follows a technical review under the EU’s AML framework, targeting countries not currently listed by the FATF but whose membership has been suspended.
In ...
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By Lee Rossini
After a challenging year for many, 2025 is drawing to a close. Many shifts were felt in the financial services sector as it is being reshaped by technological disruption, regulatory change, economic uncertainty, and evolving client expectations. Businesses that don’t adapt risk losing clients, falling behind their competitors, or falling foul of regulation. Below are key challenges confronting the sector, and how business owners can proactively prepare for a successful 2026.
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