08/30/2021
Banking sector fraud hit GH¢1bn
The losses incurred as a result of fraud for 2020 stands at GH¢25.40 million, as compared to an estimated loss of GH¢33.44 million in 2019, representing a 24.0 per cent decrease.
Legal
08/20/2021
SA crypto developer Riccardo 'Fluffypony' Spagni denied bail by US court
In a ruling on Wednesday, a US judge ordered that Spagni be remanded in custody until his extradition hearing takes place.
08/18/2021
Suleiman-led Sterling Bank Engulfed In N1.7 Billion Fraud Scandal
Mohammed stated that Sterling Bank alleged that a customer’s bank account was profiled via internet banking and the sum of N1,790,558,0 00.00 was transferred to various individuals and companies.
08/12/2021
Microfinance Bank MD jailed five years for fraud
The court ordered the bank chief to pay N3.8 million to the bank through the EFCC.
08/05/2021
Ashurst advises lenders on largest-ever UK Export Finance-backed financing in francophone Africa
The project will provide fully-equipped modern healthcare services for a catchment area of more than a million people.
08/04/2021
When can the Labour Court make a settlement agreement an order of court?
The agreement also included confidentiality and restraint of trade undertakings.
07/19/2021
Group Asks FG to Probe Ex-Bank Director $40m Fraud Allegation
The group thus urged the relevant authorities, including the Economic and Financial Crimes Commission (EFCC) to carry out a holistic investigation in unveiling such a suspicious amount of money.
07/16/2021
Bank account details stolen in major insurance hack in South Africa
The breach affected short-term insurance customers whose debit orders are processed via brokers who use or have used the Qsure service, dating back to 2014.
07/16/2021
These are the banking scams you should look out for in South Africa right now – with fraud on the rise
Somewhat more concerning is the slight increase in those who claim to have been victims of fraud, up from 30% in 2020 to 32% in 2021, they said.
07/14/2021
New judgment highlights importance of text, context and purpose in interpreting contracts
The SCA highlighted that an issue that has long troubled courts is how to marry the expansive approach to interpretation adopted in the Endumeni case with the parol evidence rule, which remains an important principle and part of South African law.
07/14/2021
Court rules on validity and enforceability of time limitation clauses
In the case, MEC Dept of Transport KZN v Raubex KZN (Pty) Ltd and another, the Department of Transport for KwaZulu-Nata and construction company Raubex agreed a contract for routine road maintenance.
07/14/2021
Hogan Lovells hosts third leg of Business Leaders Series to foster dialogue with decision makers on opportunities in North Africa
The North Africa event will be led by core members of Hogan Lovells Africa practice and feature leading private sector players and investors to discuss the latest industry and economic developments.
07/11/2021
Bob Diamond’s Atlas Mara faces High Court battle over bank deal
The case comes as Atlas Mara continues to retreat from Africa
07/09/2021
Capitec and Absa say 'fake billionaire' lied about partnerships
Last week, TV personality Somizi Mhlongo featured Lamba on an Instagram broadcast, with the latter making an offer to Mhlongo's followers to buy shares in his new company at a "special" price.
06/28/2021
Transferring Bitcoin from Luno to overseas exchanges is a crime
The document goes on to warn that breaking these regulations is a criminal offence.
06/24/2021
SA Crypto firm AfriCrypt allegedly defrauds investors of over R54bn; founders flee to UK
FNB risk spokesperson Nadiah Maharaj spoke to Business Report and refused to acknowledge any relationship with the fraud-accused company.
06/21/2021
FNB Denies Involvement in $3.6-Billion Cryptocurrency Scam
“We regret to inform you that due to the recent breach in our system, client accounts, client wallets and nodes were all compromised,” a statement from the Cajee brothers read.
06/21/2021
Eversheds Sutherland combines with FCB in Portugal, Angola and Mozambique
70+ strong legal practice joins Eversheds Sutherland’s Europe team
06/11/2021
Fed-up South Africans are taking more municipalities to court over failed service delivery
Mboweni added that there are now similar court applications which Treasury is dealing with across South Africa, with at least six other municipalities facing calls for intervention.
06/08/2021
Brian Shivambu Admits Profiting in South African Bank Scandal
Between 2015 and 2018, VBS Bank, which had several municipalities investing its money in it, was at the centre of the biggest banking "heist" in the country's history with over U.S.$136 million looted from its coffers.