Industry leaders, compliance professionals and financial crime experts gathered at the nCino KYC 2025 Fighting Financial Crime Conference where South Africa’s ongoing journey in combating financial crime was discussed, as well as the importance of prioritising compliance with the Financial Intelligence Centre Act (FICA). 

Against the backdrop of South Africa’s impending removal from the Financial Action Task Force (FATF) greylist, the conference highlighted the substantial progress the country has made, while emphasising that the work is far from over. As Hawken McEwan, Director of Financial Crime Compliance at nCino KYC Africa, put it: “We’re hopefully going to be coming off the greylist soon, but that doesn’t mean crime has stopped.”

Michael Marchant, Head Investigator at Open Secrets, expressed similar thoughts as he acknowledged South Africa’s progress saying: “We are in such a better position than we were a few years ago,” but stressed that “the need for vigilance remains incredibly high.”

The conference featured a notable lineup of speakers, each bringing a distinct perspective. The topics ranged widely — from Bowmans' Kirsten Paulo and Soraia Machado breaking down the interplay between FICA and labour law, to Investec’s Head of Fraud, Kevin Hogan, delivering an eye-opening explanation of how criminals are leveraging technology to commit fraud and financial crime.

Together We Can Drive Meaningful Change

Throughout the event, a powerful theme of collaboration emerged, as speakers repeatedly acknowledged the critical role compliance professionals play and the importance of working together.  

“We make a difference,” said McEwan, “every single compliance officer, every single person that does FICA, has the ability to make a contribution.” Felicity Mfino, Head of Financial Crime Compliance at Alexander Forbes, voiced similar views as she explained the impact of compliance and the ripple effect it has on improving the country’s financial landscape: “Don’t undermine your role as a financial crime specialist,” she urged, “we need to work together to protect our country.” Advocate Nomvula Mokhatla, Special Advisor to the Minister of the Department of Human Settlements and President of Sky Lenong Holdings, echoed this sentiment, reminding attendees that “We are all responsible for the laws that are in the country.”

Tackling Barriers in South Africa's AML Enforcement 

The conference also included a highly anticipated panel discussion featuring Pieter Smit (Acting Director and Accounting Authority of the Financial Intelligence Centre (FIC)), Advocate Xolisile Khanyile (Chair of the African Chapter of the Global Coalition to Fight Financial Crime and former Director of the FIC) and Chad Thomas (CEO of IRS Forensic Investigations).

During the panel discussion, collaboration emerged once again as a central theme — both within the private sector and between the public and private spheres.

“It was through building trust and collaboration that we have seen improvement,’’ said Advocate Khanyile. She encouraged attendees to recognise the positive things happening in South Africa and to prioritise compliance. “Lets all play our part and lets collaborate,” she said.

Highlighting how important collaboration is to the FIC, Pieter Smit said: “We do not exist without collaboration.” He also explained that compliance is a means of fighting crime and underscored the importance of collective effort, noting that “We are only as good as the weakest link in the system.”

The panel acknowledged significant enforcement challenges in the anti-money laundering (AML) space—including limited resources and skills—but also highlighted the progress already made and the growing efforts: “We had state capture, but our state was not captured. We are not a failed state,” said Chad Thomas, inspiring the audience to believe in South Africa’s potential to become a “superpower”.

As the conference drew to a close, attendees left energised and informed, with a renewed appreciation for the role they play in making a difference. The message was clear: progress has been made, but the momentum must be maintained. With increased vigilance, collaboration and continued effort, South Africa can build a more secure and stronger financial future. 

Explore more key takeaways, speaker slide decks, and a collection of event videos and photos here.