11/08/2022
VBS-accused fails to have banking law set aside, court orders his sequestration
Sars seeks R61m in tax from politically connected Kabelo Matsepe.
Legal
11/01/2022
Foreigner, three Kenyans fight over unfrozen Sh2.3 billion
The State agency alleged that the firm was involved in an intricate money laundering scheme to hide the source of illicit funds.
10/18/2022
Banking crime: ATM bombings on the rise, fraudsters cash in on bigger loot
The other growing area targeted by criminals is card fraud, especially for card-not-present transactions.
10/04/2022
DLA Piper expands its MENA capabilities with new IP Partner appointment
Global law firm DLA Piper has appointed Saba Al Sultani as a Partner in its Intellectual Property and Technology group, based in Dubai
09/28/2022
Nigerian Investors Petitions Kenya Courts to Release Funds Held in Several Bank Accounts
2,000 Nigerian investors demanding the release of Ksh 1.44 billion ($1.8million) held by Safaricom and four other banks in Kenya.
09/14/2022
Sekunjalo’s Nedbank accounts remain open as court reserves judgment
That judgment also ordered that Nedbank retain the terms and conditions on which these accounts were operating prior to the date of their closure.
09/14/2022
Kenyan authorities drop money laundering cases against three Nigerian companies
In April, the ARA applied to a high court to freeze KSh 5.6 billion in six accounts belonging to these companies.
08/30/2022
Union Bank Reacts To Alleged N1.6 Billion Fraud
“A large portion of the published reports are factually inaccurate and patently false; therefore, Union Bank seeks to make the following categorical clarifications: Union Bank was not defrauded by any syndicate
08/24/2022
Nicola Sharp, Of Financial Crime Specialists Rahman Ravelli, Explains The Message The $21 Million Fine Imposed On Nedbank
The investigation, which began in 2019, found that Nedbank failed to keep accurate records or adopt an appropriate risk-based approach.
08/09/2022
Judge slams bank in South Africa over ‘copy and paste’ job
The application for default judgment was also served on them by placing it in their post box.
08/08/2022
Court orders Sonny Odogwu’s estate to pay N26 billion to Access Bank
he judge invalidated a purported consent judgment in which parties in the suit agreed on the payment of N12 billion as full and final payment.
08/01/2022
Ruling highlights evidence disclosure duties in South Africa
EY was willing to withdraw from the project to allow Transnet to re-tender, but Transnet rejected this option and asked EY to prepare a revised work plan.
07/29/2022
Bank seeks interpretation of S’Court verdict on bank guarantee
It followed a suit by OAN at the Federal High Court in 2006.
07/27/2022
Dissilio Investments (Pty) Ltd v Nedbank Limited: What does this mean for Breakage Costs and Early Repayment Penalties?
The judgment was given on specific facts and does not set out general principles of law which will be applicable to all banking relationships with customers.
07/25/2022
Massive visa fraud uncovered in South Africa: minister
This only pushed the department to dig deeper, he said.
07/18/2022
Judiciary to link 67 courts to national fibre optic hub
The CJ added that the Judiciary has since embraced e-government and is now banking on technology to facilitate the provision of e-justice and improve the efficiency of its administrative processes.
07/14/2022
Hogan Lovells advises Persistent in $10M equity round to grow climate venture building in Africa
This is Persistent’s third capital raise since its founding.
07/08/2022
More trouble for Flutterwave after Kenyan Court freezes fintech’s bank accounts
The ARA believes that the accounts may have been used as conduits for money laundering in the guise of providing merchant services.
06/23/2022
Zondo says banking laws must change to allow clients to be heard before shutting accounts
The Supreme Court of Appeal (SCA) previously ruled that banks were not obliged to hear the client's side, since the two shared a contractual relationship.
06/22/2022
High Court yet again sets aside adverse findings by the B-BBEE Commission
Sasol Oil based its review application on the provisions of the Promotion of Administrative Justice Act, 2000 (“PAJA”), alternatively on the principle of legality.