The Financial Sector Conduct Authority (FSCA) has imposed administrative sanctions totalling R770 000 on three licensed financial services providers following inspections that identified a range of failures under the Financial Intelligence Centre Act (FIC Act). The sanctioned entities are Sithembile Holdings (Pty) Ltd (FSP 50876), Mbuli Finance (Pty) Ltd (FSP ...
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The Financial Sector Conduct Authority (FSCA) has revoked the enforcement decisions it imposed in March 2024 against My Wealth Dias (Pty) Ltd and Mr Charl Francois Coetzee. The original action included an administrative penalty of approximately R15.07 million against My Wealth Dias and a 20-year debarment of Mr Coetzee ...
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The Financial Sector Conduct Authority (FSCA) has issued a draft directive against AAG Life (Pty) Ltd and its director and key person, Mr Sidwell Mosito Aaron, following an investigation into funeral policies sold to members of the public. According to the FSCA, AAG Life accepted monthly premiums and offered benefits ...
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By Lee Rossini
The value of using artificial intelligence (AI) for improving strategic decision-making is apparent. AI can provide access to analytical capabilities that were previously only available to larger organisations with technology budgets and data-science teams. However, the growth of accessible, off-the-shelf generative AI tools offers opportunities to smaller businesses through improved methods of prediction, risk management and decision-making. Nevertheless, although there is increasing adoption of AI tools, skills, cost, cybersecurity and effective integration are still challenges for these businesses.
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