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 VDT Attorneys | Jun 11, 2025 | Corporate advisors, Corporate governance, Corporate Governance principles, Grey listing, OECD, Organisation for Economic Co-operation and Development
What is the OECD?The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organisation established in 1961 and is one of the leading international standards for corporate governance. South Africa, however, only became a partner of the...
by VDT Attorneys | May 6, 2025 | Accountable Institutions, FIC, FICA, Financial Intelligence Centre, Grey listing
The Financial Intelligence Centre (“FIC”) is empowered by the FIC Act to enforce the Act and ensure that accountable institutions meet their required obligations. They are also empowered to hand out sanctions and penalties for non-compliance.As part of its compliance...
by VDT Attorneys | 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 VDT Attorneys | Feb 28, 2023 | Amendment Act, Companies Act, Company, Compliance, Corporate, Grey listing, Money Laundering, Trust
The Financial Action Task Force (“FATF”) periodically assesses nations and the effectiveness of their financial intelligence regulatory frameworks and controls to prevent money laundering, the illicit flow of money and terrorism financing. When serious deficiencies in...
