POPIA – Guidelines for implementation

POPIA – Guidelines for implementation

GUIDELINES FOR IMPLEMENTATION The Protection of Personal Information Act (POPIA), is South Africa’s primary legislation on data privacy and management.  The Act, which pertinent sections become effective on the 1 July 2020, seeks to promote the protection of personal information processed by public and private bodies while introducing certain conditions to establish minimum requirements for the processing of personal information. The requirements of POPIA are rather onerous and will have significant impact on business processes and systems. The advisory team at Navigate Compliance have put together a guideline to assist you with the implementation of the POPIA provisions. Understand your...

Certified Cyber Risk Officer – Online Course

Certified Cyber Risk Officer – Online Course

Cyber threats grow ever greater in terms of both volume and sophistication, not least during periods of upheaval. In spite of this, many organisations rely on either third party consultants or else solely on their IT function to develop their Strategy. The former can be extremely time consuming and costly and miss internal nuance, whilst the latter, however strong the IT capability, risks a policy being developed and implemented without a full understanding of the business, its drivers and operations. There are hundreds of thousands of cyber security jobs currently listed across all major job boards, highlighting a clear skills...

Financial crime themes likely to dominate the South African landscape

Financial crime themes likely to dominate the South African landscape

The financial crime regulatory landscape is evolving amidst of political interventions, global events and evolution of methods and trends to commit financial crime. As criminals become increasingly connected and innovative, businesses exposed to financial crime threats need to ensure that they maximise the use of technology, data and the expertise of their people to protect themselves. It is estimated that 1% of criminal funds flowing through the international financial system every year are detected and dealt with by law enforcement agencies. Clearly, new approaches to tackling financial crime are needed and the good news is that change is coming over...

Common challenges faced by financial institutions when processing trade finance transactions

Common challenges faced by financial institutions when processing trade finance transactions

Tricks of the Trade Aamar Ahmad, from Sigma Risk  provides insights into common challenges faced by financial institutions when processing trade finance transactions. There are three main methods by which criminal organisations and terrorist financiers move money for the purpose of disguising its origins and integrating it into the formal economy. The first is using the financial system; the second involves the physical movement of money (e.g. using cash couriers); and the third is through the physical movement of goods through the trade system. In recent years, the Financial Action Task Force (FATF) has focused considerable attention on the first...

Trade Misinvoicing – A Common TBML Typology

Trade Misinvoicing – A Common TBML Typology

Global Trade is the backbone of global economy and all of us benefit from trading of products and services across the continents. Global Trade Atlas (GTA) expected an increase in the real value of global trade in both 2020 and 2021 to respectively 188,70.58 and 197,94.77 USD billion. While the global trade is expanding year on year, we have observed an increasing trend in the illicit activity by criminals trying to move economic values of proceed of their crime through global trade. The immense volume of goods traded across the globe make it very attractive for criminals to disguise behind...

The Regulation of Virtual Assets in South Africa

The Regulation of Virtual Assets in South Africa

South Africa’s draft policy on the regulation of virtual currencies calls for the development of a regulatory framework. The policy is currently under deliberation by the Crypto Assets Regulatory Working Group, an intergovernmental group comprising of financial sector regulators and spearheaded by National Treasury. The policy is based on international requirements and includes the implementation of the FATF travel rule, which will undoubtedly bolster industry legitimacy. The FATF Travel Rule requires Virtual Asset Service Providers (VASPs) to collect and share personal data during transactions. While many exchanges and wallet providers request customers to verify their identities, transactions using cryptocurrencies are...

How does a single CPD platform for different professionals sound to you?

How does a single CPD platform for different professionals sound to you?

At Navigate, we believe in guiding learners towards success and equipping them with the skills required to perform effectively and compete on a global scale. Our regulatory knowledge management platform is unique to the African continent as it blends training and advisory solutions. It allows institutions to tailor-make their employee and development programme based on their needs, budget and strategic objectives. Institutions can choose between – Compliance support solutions 50+ online CPD courses for compliance officers, risk, audit, fraud and governance professionals 25 specialized FAIS CPD courses for advisors and key individuals Soft skills and team effectiveness sessions (Game-based learning) Training...

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