Unpacking how criminals use High-Value Goods Dealers to launder money

24 January 2025 | Durbanville Hills Winery | 08:00 – 10:00

It is estimated that South African businesses launder between R16-billion and R64-billion yearly. As a manufacturer and/or seller of high-value goods—such as machinery, vehicles or heavy equipment you might be wondering what exactly this means for your business? While incidents of criminals purchasing high-value goods with illicit cash have been widely reported, there is a growing trend of criminals using these goods to launder money. The sophistication of these operations is alarming, and your business could be unwittingly implicated.
 

Join the DocFox compliance experts for a complimentary breakfast session where you will gain valuable insight into how criminals exploit businesses to launder money and discover practical strategies to protect your business from becoming a target.

Topics that will be discussed:

Real-world examples of non-compliance: Case studies of High-Value Goods Dealers involved in money laundering and the consequences thereof.

How to identify red flags and industry risks: Key indicators that may indicate potential risks for High-Value Goods Dealers and how to identify them early enough to protect your business.

Preventing your business from being involved in money laundering: Effective strategies and best practices to safeguard your business against money laundering activities.

The critical role of client screening: Why thorough client screening is essential for understanding and mitigating your clients’ risk profiles.

The role of technology in streamlining your FICA compliance processes: How DocFox can help your business.

Q&A session: An opportunity to address any questions or concerns regarding FICA compliance.

Register here >>>>

If you have any questions or need more information, please email communication@docfox.co.za.

About DocFox:

DocFox is an end-to-end software and services solution that enables accountable institutions to be FICA compliant. It is trusted by hundreds of high-value goods dealers, law firms, property practitioners, asset managers and other discerning businesses. Request a live demonstration to see how we can assist your business.

Reach out below for any queries or information on how to become FICA compliant: sales@docfox.co.za