South Africa has completed the final key step in the process of being removed from the Financial Action Task Force’s (FATF) grey list, following a critical on-site assessment by the FATF Africa Joint Group in Pretoria on 29–30 July 2025.
The visit marks a major milestone since the country’s greylisting ...
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On 25 July 2025, the FSCA and Prudential Authority released Joint Communication 2 of 2025, clarifying their expectations for financial institutions using cloud services and offshoring data. The notice emphasises a risk-based approach, robust governance, legal enforceability of cloud contracts, and thorough due diligence before adoption.
Baker McKenzie reports that ...
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South Africa’s financial sector, one of the most advanced in the developing world, is experiencing a transformative wave driven by fintech innovation. With over 200 fintech firms operating as of December 2021, and more expected to emerge, the sector is reshaping how financial services are delivered. A recent South African ...
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By Lee Rossini
Although AI does offer benefits in terms of efficiency, accuracy, cost reduction and scalability, integrating the tools into a business requires more than just adopting the latest technology. To make the most of AI, a well-thought-out strategy that aligns with business goals, adheres to regulatory requirements, and manages risks is very necessary. An AI strategy should consider the following:
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