Please take note of the following updates in the industry.

From the FSCA...
The FSCA Research Insights and Consultation Paper on Open Finance for South Africa has been published.
The report on Open Finance outlines a framework to allow consumers and companies to access and share their financial data with third-party providers, provided there is explicit and informed customer consent.

The benefits documented in the report creates some risks, the paper addresses these risks by making recommendations.

  • Comments on the Consult paper are due on 31 January 2021
  • Click here for the notification.

From the FATF...
The FATF presented a media statement on the jurisdictions under increased monitoring .

The statement is in respect of jurisdictions mentioned in the statement to take into account when determining the factors relating to any of those jurisdictions that may be indicative of money laundering and terrorist financing risks. 

The list of jurisdictions was updated in October, namely Botswana, Albania, The Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Myanmar, Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen and Zimbabwe.



Please note that the SAIS will close for the festive season at 12h00 on
24 December 2020 and will re-open on 4 January 2021.