by VDT Attorneys | Apr 20, 2026 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Beneficial Ownership, Is your family trust SARS-proof, Trust compliance
The role of Independent TrusteesOver the past few years, SARS has raised the issue that the trusts are not administered independently by the trustees. An independent trustee is required to act on all family trusts to ensure that the decisions made are objectively...
by VDT Attorneys | Feb 4, 2026 | AML, Anti-Money Laundering, Anti-money Laundering Amendment Act, Beneficial Ownership, Companies, SARS
A regular review of the trust deed, the trustees and the beneficiaries of the trust is a crucial element in ensuring the trust’s compliance. Poorly drafted trust deeds can limit the trustees’ powers, with tragic and unnecessary long-term consequences for the...
by VDT Attorneys | Dec 3, 2025 | AML, Anti-Money Laundering, Beneficial Ownership, Grey listing, SARS, Trust compliance, Trustee Duties, Trusts
With South Africa’s greylisting by the Financial Action Task Force (FATF) in 2023, compliance has evolved from being a peripheral consideration to a crucial element of fiduciary planning. Understanding how compliance obligations influence, and in many cases,...
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 | Feb 6, 2025 | Beneficial Ownership, Trust, Wills and Trusts
Following these amendments to the Trust Property Control Act, the Master of the High Court published a directive on 17 October 2023, introducing a new platform for the submission of beneficial ownership (BO) registers by trustees. The consequence for non-compliance...
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...
