ConCourt closes the door on Sekunjalo

The Constitutional Court yesterday ruled that an attempt by Iqbal Surve's Sekunjalo Group to appeal the dismissal of its racism case against Nedbank – which it used to block the closure of its accounts – has ‘no reasonable prospects of success’.

ATM wants Parliament to probe ‘forex cartel’ case

The African Transformation Movement (ATM) is forging ahead with its plans to have Parliament establish an inquiry into the allegations of rand manipulation involving national and international banks.

SIU and Transnet sue Nedbank for ‘corrupt’ transactions

Nedbank faces a potential repayment to Transnet of R10.5bn relating to the commercial bank’s role in executing questionable financial transactions on behalf of the state-owned entity (SOE) during the state capture years.

Nedbank embezzler imprisoned for 18 years

A former universal banker at Nedbank’s Makhanda branch received what the Gqeberha Specialised Commercial Crimes Court believed was a fitting sentence for embezzling millions from the bank.

AfriForum considers interdict appeal options

After obtaining an urgent interdict in June stopping Nersa from considering municipal tariff applications for 2024/25 and increases without cost studies, AfriForum demanded Nersa’s compliance by Friday.

Standard Bank denies funds stolen in cyber attack

Standard Bank has denied that it suffered a cyber attack despite a raft of complaints, News24 reports.

Banxso’s link to the Banc de Binary scam unpacked

The Cape Town-based trading platform Banxso has strong links to one of the world’s largest international binary options scams operating between 2010 and 2017.

Rand manipulator avoids US jail term

SA national Neil Phillips yesterday avoided a US prison term for manipulating an exchange rate in order to trigger a $20m barrier option.

Crypto marketer gets bail in fraud case

Neil de Waal, a promoter for multi-level marketing scheme GS Partners (GSP), has been granted R15 000 bail in the Benoni Magistrate's Court after making an appearance on charges of fraud.

SCA overturns ENS cybercrime ruling

The SCA has overturned a High Court ruling that had found leading law firm Edward Nathan Sonnenberg Inc (ENS) liable to pay a woman R5.5m stolen by fraudsters who manipulated emails sent from the firm, reports GroundUp.

Miner to lay charges over alleged share price manipulation

Copper 360, a junior miner reviving copper operations in the Northern Cape, plans to lay criminal charges against a particular entity that has been allegedly shorting its stock, reports Fin24.

Crypto promoter charged with fraud

The Benoni Magistrate's Court has set Gold Standard Bank (GSB) promoter Neil de Waal’s  bail at R15 000 after he was charged with fraud.

BHI kingpins remanded in custody

The Hawks have detained Global and Local financial adviser Michael Adam Haldane and Rubicon Trust director Sona Pillay – who had attempted to flee the country – in connection with their alleged role in the R2.8bn BHI Trust Ponzi scheme.

Almost R100bn in mortgages on brink of distress

SA’s biggest four banks have about R98bn home loans in the last stage before they're categorised as non-performing, which Standard Bank said showed the impact of high interest rates on consumers, reports BusinessLIVE.

Nedbank shut down 190 suspect client accounts

Nedbank has revealed it has closed more than 190 suspect client accounts in 2023 due to reputational concerns. The bank revealed this in its 2023 integrated report, which was published on Thursday, according to Fin24.

Frustration over R1.35trn offshore inheritance fight delay

A claim by the Surtie family against the Public Investment Corporation (PIC), for the payment of R1.35trn linked to offshore inheritance funds, is on hold at the Constitutional Court.

BHI Trust claims top R1.64bn

Claims against the BHI Trust have topped R1.64bn and the figure is growing as court-appointed trustees try to unravel what police believe was an elaborate Ponzi scheme run by Craig Warriner, a St Stithians College old boy who worked his former school network with stunning effect, reports The Citizen.

Sasfin deflects R4.9bn SARS claim

Sasfin CEO Michael Sassoon says the money that was allegedly laundered and expatriated through the bank's foreign exchange unit was transferred from other banks.

No change in interest rates, but cuts looming

The Reserve Bank yesterday held interest rates as expected, saying headline inflation would now reach the 4.5% target only at the end of 2025, later than previously expected, reports BusinessLIVE.

MK questions timing of FNB action against Zuma

The Jacob Zuma-led uMkhonto weSizwe party (MK) has raised questions over the timing of the closure of the former President’s bank account by FNB, saying Zuma will be directly affected as his presidential pension is paid into one of the accounts.