Tag: Kim Rew

South Africa has been fighting corruption with legislation that, frankly, lacked teeth. The Prevention and Combating of Corrupt Activities Act 12 of 2004 (PRECCA) has long been the cornerstone of the country's anti-corruption framework - criminalising bribery, fraud and a broad range of corrupt conduct in both the public and private sectors. The law was there. The convictions, historically, were not. That is rapidly changing.

Picture a rainy Wednesday morning in Sandton, sometime in the near future. A claims handler opens their laptop. Right away, things move much faster than before. For every new email, the company’s Artificial Intelligence (AI) system drafts a suggested reply. The inbox is also lighter. A public chatbot handles most client and broker queries because it has been trained on policy wordings and continues to improve. Need a meeting? An AI assistant schedules it, sets reminders, and even takes minutes.

South Africa's Minister of Finance increased the maximum fines that the Independent Regulatory Board for Auditors can impose on auditors for misconduct.