The Financial Sector Conduct Authority (FSCA) in collaboration with the North-West University Business School’s Unit for Corruption and Integrity Studies (NWU) hosted the 4th annual South African Financial Crime Symposium, which took place on the 4th & 5th of March 2025. The annual event is aimed at strengthening the fight against financial crime and brings together decision makers from law enforcement agencies, prosecution services, financial regulators, relevant Government entities, industry representative bodies and experts, and local and international academia. The event promotes cooperation and coordination amongst these critical role-players and considers levers for impact.
Financial crime is a scourge against all South Africans. It compromises the integrity of financial systems, hindering economic growth as it causes significant losses to households, businesses and government. It threatens the safety and security of communities, especially the most vulnerable.
In his welcome address, Gerhard Van Deventer of the FSCA, emphasised the importance of collaboration and information sharing across institutions – a theme all participants echoed as they presented on their roles and functions within the financial sector. Expert speakers and professionals had the opportunity to network and discuss not only challenges facing the South African financial landscape, but also cutting-edge solutions set to change the narrative on financial crimes.
As the future of financial crime evolves, the insights, relationships and partnerships formed at the symposium are a beacon of hope for the financial sector, consumers and the economy alike. Members of the public wishing to contribute towards this initiative are welcome to visit the symposium’s website on www.safinancialcrimesymposium.co.za
What is Fraud? “Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.