Key facets of the Medium-Term Budget Policy statement

[Paddy Hartdegen] Finance Minister Pravin Gordhan presented his Medium-Term Budget Policy statement to Parliament on Tuesday, 25 October 2011. The implications for the whole of South Africa are extensive and there are many different interpretations that can be placed on the policy and its implementation in the years ahead. Read more >>

Banks get access to fingerprint database

In a bid to prevent identity theft, South African banks are tying up with the Department of Home Affairs so that they can have access to an online database of fingerprints, according to Fin24. Read more >>

Prescribed debt: the clock is ticking

[Melanie Hart] In terms of the Prescription Act, 68 of 1969 (the Act), a debt is extinguished (prescribed) after the relevant period provided for by law for that debt, lapses. Debts secured by mortgage bonds, judgement debts and tax-related debts take 30 years to prescribe. Debts owed to the state prescribe after 15 years, and bills of exchange prescribe after six years. All other debts are governed by a three-year prescriptive period. Read more >>

Leaving expensive belongings in vehicle can be costly - MUA

A new South African survey has revealed that 82% of respondents leave expensive belongings in their cars overnight, not only exposing their motor vehicle to potential expensive break-ins but also leaving their personal and sometimes irreplaceable belongings vulnerable to being stolen. Read more >>

Standard Bank lends R31-billion for homes

Standard Bank financed almost half of all the new homes bought in the past year according to The Sowetan, which claims the bank has helped provide stability and liquidity to the local property market. Read more >>

How to deter investors - Massmart/Walmart

At times in the competition appeal court in Cape Town last week, the proceedings seemed like an exercise in futility. Read more >>

Top tax students in SA announced

Three talented university students were honoured at a gala dinner on 25 October for their exceptional, prize-winning thesis submissions in leading legal practice, Norton Rose South Africa's fifth annual Tax Thesis Competition 2011. Submissions this year focused on dividends, the environment, trusts and the concept of permanent establishment, among others. Read more >>

Mobile banking app usage in the US up 45% from Q4 2010

RESTON, US: comScore, Inc has released an analysis of mobile financial services usage in the US showing that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011 in June, representing 13.9% of all mobile users. Read more >>

Bank details scam is staging a comeback say PwC fraud experts

LONDON, UK: It all starts with a letter or email: "Dear Accounts Payable department, our bank details have changed to the following. Please can you update your records." Companies that fall victim to this 'change of supplier bank details' scam, currently staging a comeback, , may end up paying out large sums to the wrong people, according to fraud experts in PwC's forensic services. Read more >>