Legal Update November 2023

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By Nicolene Schoeman – Louw

The fintech industry in South Africa is experiencing a significant surge in innovation, paving the way for financial institutions to reach a broader customer base and fostering much-needed financial inclusion in the country.

However, the rapid expansion of this digital frontier has brought forth the pressing need for a regulatory framework tailored to the digital age while promoting broader participation.

Read it in full here .

Tips For First-Time Property Buyers

Did you miss our Paarl 96.7FM live radio interview with Nicolene Schoeman – Louw discussing what first-time property buyers should think about?

Here is the replay.

Schedule a Free 10-minute consultation with Nicolene here .

Has Your Business Been The Unfortunate Victim Of Fraud?

Organisations worldwide lose an estimated 5% of their annual revenues to fraud, according to the Association of Certified Fraud Examiners (ACFE)

A single instance of fraud can be devastating: the median loss per fraud case was over R2 million, and more than a fifth of the cases involved losses of at least R18 million.

The good news... There are some basic steps your business can take immediately to protect you from fraud:

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Adopt a code of ethics for management and employees. Evaluate your internal controls for effectiveness and identify areas of the business that are vulnerable to fraud.

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When hiring staff, conduct thorough background investigations. Check educational, credit and employment history (as permitted by law), as well as references.

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Do workers know the warning signs of fraud? Ensure that staff members know basic fraud prevention techniques.

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Fraud is still most likely to be detected by a tip. Providing an anonymous reporting system for your employees, contractors and clients will help uncover more fraud.

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Communicate regularly to staff about anti-fraud policies, ways to report suspicions of misconduct, and the potential consequences (including termination and prosecution) of fraudulent behaviour.

Prevention Is Better Than Cure!

Conflict is generally a request for a better way to meet a need/interest. There are usually underlying, often longstanding reasons below the conflict surface.

Entrepreneurs, don't wait until the conflict overflows... We have an alternative to expensive and time-consuming court battles.

Say hello to #Mediation – a cost-effective and efficient legal solution offered at SchoemanLaw Inc .

• Mediation is a quicker and cheaper way to resolve disputes without sacrificing fairness and thoroughness. It's a smart choice for entrepreneurs looking to protect their interests and maintain business relationships.
• When you choose mediation, you save money on exorbitant legal fees and court costs. It's an investment in your business's financial health and future growth.
• Our experienced mediators specialize in working with entrepreneurs, and understanding your unique needs and priorities. We provide a safe and collaborative environment to facilitate productive negotiations and achieve mutually beneficial outcomes.
• Don't Break the Bank! Choose Mediation for Your Legal Needs!

Ready to embrace the advantages of mediation for your business? Contact us today.

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