by Tenile Timmins | Apr 10, 2025 | Accountable Institutions, AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Grey listing, Trust
The new developments include QR codes on all new Letters of Authority issued by the Master’s Office. While it may seem like a minor change, it is a big step forward in ensuring the authenticity and validity of all Letters of Authority. The QR code will allow banks,...
by Tenile Timmins | Feb 27, 2025 | Accountable Institution, AML, Anti-money Laundering Amendment Act, Beneficial Ownership, FICA, Trust
In terms of the FIC Act, Accountable Institutions are required to implement stringent anti-money laundering controls, report suspicious activities or behaviour and make sure that they are registered with the Financial Intelligence Centre (FIC) in terms of the FIC...
by VDT Attorneys | Sep 3, 2024 | AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Companies Act, Company, Trust
While proper administration of a trust has always been a duty of trustees, the manner in which the duty is discharged is now under scrutiny, particularly following the arrival of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act...
by VDT Attorneys | Jan 16, 2024 | AML, Annual Returns, Anti-money Laundering Amendment Act, Beneficial Ownership, Company, Trust
The Companies and Intellectual Property Commission (“CIPC”) has introduced its new system with changes for the filing of annual returns as of 11 December 2023. These new changes will join the filing of the Beneficial Ownership Declaration on the CIPC’s portal and the...
by VDT Attorneys | Nov 6, 2023 | Amendment Act, AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Company, Trust
New electronic platform The result was the development and launch of a new electronic platform to address the concerns raised. However, the new electronic platform has also introduced additional requirements for Trustees and will now require Trustees to actively...
by VDT Attorneys | Nov 6, 2023 | AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Corporate Trusteeship, Trust
South Africans have not been spared with loadshedding, escalating fuel prices and rising inflation further adding to the uncertainty. This makes it feel as if planning for the future is pointless and all you can really do is survive the now. In this article we discuss...
