Capitec Bank
Prudential Authority Punishes ‘People’s Favourite Bank’ Capitec after Identifying Compliance Flaws
Capitec Bank, one of South Africa’s most widely used retail banks, has been hit with…
Scammers’ who Fraudulently Killed Student to Cash Out Funeral Policy won’t be Prosecuted after NPA Withdrew Case
The alleged scammers who fraudulently killed a 27-year-old University of KwaZulu-Natal (UKZN) student to claim…
Report Shows how R37 Million Stolen from KwaDukuza Municipality Bank Account was Shared with 15 People and Companies
A detailed report obtained by African Times has revealed how the R37 million that was…
UKZN Student’s Life Ruined After Being Fraudulently Declared Dead To Claim Capitec Bank Funeral Policy
A 27-year-old University of KwaZulu-Natal (UKZN) student from Durban has had her life turned upside…
Capitec Bank Fined R56 Million For Failing To Comply With FICA Regulations
The Prudential Authority (PA), an entity of the South African Reserve Bank tasked with monitoring banks, has fined Capitec Bank R56 million for failing to comply with some provisions of the Financial Intelligence Centre Act (FICA), mainly enacted to prevent money laundering. The PA accused the bank of failing to comply with certain provisions of the FIC Act 38 of 2001. The fine was announced on Friday last week through a press statement. “The sanctions consist of seven cautions, one…