Reserve Bank’s seizure of Steinhoff’s R6bn part of wider clampdown
Seizures have netted fiscus billions of rand
19 July 2024 - 19:04
UPDATED 21 July 2024 - 23:14
The SA Reserve Bank has issued more than 300 forfeiture orders in the past five years to scores of individuals and entities found wanting in terms of SA’s exchange control regulations, netting the fiscus billions of rand in the process.
A cursory examination of the notices, legally called a “notice and order of forfeiture” by the central bank, since 2021 shows the Bank has been on a drive to punish those found breaking exchange control rules after investigations by its financial surveillance department (FinSurv)...
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