Tag: FinancialCompliance
Trust tax penalties enforcement reshapes compliance obligations
Time has run out for non-compliant trusts. Since 4 May 2026, the South African Revenue Service (SARS) has imposed administrative penalties on trusts with outstanding tax returns. SARS levies these penalties monthly. In some cases, penalties may reach R16,000 per outstanding return.
FICA compliance training – protecting institutions from risk
Earlier in November 2025, the South African Reserve Bank announced administrative sanctions against two finance companies. Regulators imposed these sanctions after the companies failed to comply with the Financial Intelligence Centre Act (FICA).
PCI DSS compliance is a business essential, not an IT task
Payment Card Industry Data Security Standard (PCI DSS) compliance has often been viewed as a requirement only when circumstances force action. For example, organisations respond after a breach makes headlines or when a bank requests proof. This reactive approach exposes organisations to avoidable risk.
