That's according to the latest motor vehicle dealers' risk assessment report compiled by the Financial Intelligence Centre .
It defines terrorist financing, which according to the report is considered low risk in SA, as the process by which individual terrorists and terrorist organisations obtain funds to commit acts of terrorism. “There are many private transactions regarding pre-owned vehicles taking place on a daily basis without effective monitoring as private individuals are not compelled to report cash transactions.”
“The relatively low number of reports in the 2020/21 financial year may be attributed to a possible reduction in the number of transactions as a result of the Covid-19 pandemic.” “The money laundering risks associated with the use of cash are therefore still present and motor vehicle dealers need to be aware of such risks and need to apply mitigating measures.”
Only noticing this now🤡🤡🤣🤣🤣
Okay but is it their problem though? 😭 They just wanna make their money. If they have to do investigations everytime would they even sell cars? Cmon man.
That is not their problem.
You woke up one morning and wrote this rubbish... eh banna SA journalisms is in the mud tjerr. 🤭
This is not at all surprising 😂 this should have been one of the first areas investigated, criminals do this globally. The question is who has been sleeping at the wheel of all of this down here in South Africa? Wasn’t a strip club owner once allegedly killed over this!?
Poor motor dealers, become the victims of cash paying cronies.
why is this even news?
Dnt seem like they'd care. Greedy MFs those ones!