Criminals with ‘dirty’ money may view motor
vehicle dealers as a prime target in the money
laundering process. The threat of money
laundering and even terrorist financing poses a risk
to the motor industry and to the South African
economy at large. In an effort to bolster the South
African anti-money laundering framework - Motor
Vehicle dealers, along with other dealers in high
value goods high value dealers, are now considered
to be accountable institutions in terms of Schedule
1 of the Financial Intelligence Centre Act (FIC Act).
There are a number of steps that a motor vehicle
dealer must take in order to meet the obligations
of an accountable institution. These include:
•
Registration with the FIC
•
Appointment of a money
laundering compliance officer
•
Development of a risk
management compliance program
•
Reporting to the FIC
•
Customer due diligence and risk rating
•
Proper record keeping
•
Ongoing training of employees
Ready for your first compliance submission to
the FIC due 31 July 2023?
Directive 7 serves to inform Accountable
Institutions (motor vehicle dealers included) that
they must submit information regarding their
understanding of money laundering (ML), terrorist
financing (TF) and proliferation financing (PF) risks
and their assessment of compliance with
obligations in terms of the FIC Act to the FIC
through a risk and compliance return. The
information obtained from the risk and
compliance return will assist the FIC in forming an
understanding of the levels of risk awareness and
compliance of the responding Accountable
Institution with the FIC Act and in identifying the
ML, TF and PF risks facing different Accountable
Institution sectors.
Motor vehicle dealers are required to Complete the
online risk and compliance return covering the
reporting period from 1 January 2023 to 30 June
2023, both dates inclusive. Non-submission of the
risk and compliance return will be considered
non-compliance and may result in an
administrative sanction, in accordance with section
62E read with section 43A(3) of the FIC Act.
South Africa has recently been placed on the grey
list by the Financial Action Task Force due to
inadequacies relating to our anti-money
laundering and terrorist financing framework.
Both government and the private sector are hard
at work to ensure that we are able to get off the
grey list as soon as possible. We can expect the
Financial Intelligence Centre, as the responsible
supervisor over the motor industry to conduct
onsite inspections into compliance with the FIC
Act. Those dealers found to be non-compliant can
expect the impositions of sanctions ranging from a
slap of the wrist to significant fines and even
imprisonment.
We at Navigate Compliance are in a position to
provide you with the operational implementation
and ongoing management of your compliance
obligations as an accountable institution. Click here
to find out more information about our outsourced
compliance services and AML operational centre.
Navigate Compliance is an award wining
compliance practice based in South Africa. We
specialize in helping organisations navigate
complex regulatory requirements. We have a
proven track record having worked with a wide
range of clients across sectors and jurisdictions.
Navigate has received recognition for its innovative
and effective approach to compliance and
regulatory issues and has been featured in a variety
of industry publications and media outlets.
Our strategic partners include the International
Compliance Association (ICA), International
Association of Privacy Professionals (IAPP) and the
Global Compliance Institute.
Registration Number: 2016/343423/07
BBBEE Empowerment Level 1
100% Women Owned
Play your part in
the fight against
financial crime
- What you need to know.
073 956 9407
info@navcompliance.co.za
www.navcompliance.co.za
eading automotive retailer, Motus is launching a new advertising cam-
paign for their vehicle aggregator website, motus.cars. The new cam-
paign highlights the fact that no matter your needs or current lifestyle,
they have the right car for you.
Since its launch in 2020, the website motus.cars has revolutionised on-
line vehicle-shopping in South Africa by listing all the cars, motorcycles
and trucks available from their 300+ Motus dealerships around South Af-
rica on one single website. With more than 10 000 used and demo cars
alone on display in this online vehicle showroom, car shoppers are sure to
find the exact vehicle for their current needs at the mileage and price that
suits their pocket.
The new motus.cars ad campaign showcases that whatever car you’re
searching for, you can find it on motus.cars and is centred around lifestyle
choices and life moments. Launch messaging includes “My pets are my
kids”, “Space for one more” and “Let’s get out of town” highlighting the
fact that if you need a car that is suitable for your pets, a bigger car for
your growing family or a car that unlocks adventures and is more suited to
holiday travel for example, they can all be found and purchased easily and
conveniently via the motus.cars website.
“Where most car dealerships concentrate on endless images of cars or
specs, we wanted to concentrate on what owning a car really means. For
example, without a car ‘Buster’ gets to sniff his way around the block now
and then. With a car, Buster gets an outing to the nearby beach or moun-
tains. This simple scenario illustrates just how a car benefits your lifestyle.
The campaign, ‘Find your _______ Car’ lets us tap into real human needs
and showcases the vast variety of vehicles that motus.cars own”, says Ger-
aint Gronow, Creative Director, Accenture Song.
This campaign will be rolled out across a variety of advertising mediums
including digital, social, outdoor and radio.
In essence motus.cars is a vehicle aggregator site with over 10 000 ve-
hicles offered for sale at any one time. However, what makes motus.cars
different is that all vehicles listed on the motus.cars website are owned by
Motus dealerships. As such there are no classified or private advertise-
ments, allowing customers to shop with confidence in knowing that they
are dealing with a reputable brand.
The vehicles offered for sale on motus.cars include new, demo and used
cars covering all the segments of the South Af-
rican vehicle market and therefore offers unri-
valled variety.
motus.cars lists all the Motus stock in one
place, effectively making motus.cars SA’s largest
true online vehicle showroom.
The motus.cars website offers consumers
everything they could ever need to make an in-
formed vehicle purchasing decision in a simple,
safe and convenient manner in one place. Mo-
torists can search from a wide variety of new,
used and demo vehicles at the same time in the
same place and motus.cars is the only platform
where consumers can accurately compare all
these options with one another. Easy to use web-
site functionality includes amongst others online
calculators that aid in determining financing and
other fixed costs, assisting consumers to make
an informed decision. A wide variety of different
search filters allow visitors to narrow down their
vehicle search according to their specific criteria
while Live Chat agents are ready to assist with
any questions or queries.
Probably one of the biggest issues when
shopping online for a pre-owned vehicle is being
able to trust the seller. By shopping with motus.
cars that concern is eliminated as consumers
are dealing with SA’s largest automotive deal-
er group who own all 10 000 cars that they list
for sale.
NEWS
motus.cars launch
new advertising campaign
10
www.automobil.co.za
May 2023
11
www.automobil.co.za
May 2023
Criminals with ‘dirty’ money may view motor
vehicle dealers as a prime target in the money
laundering process. The threat of money
laundering and even terrorist financing poses a risk
to the motor industry and to the South African
economy at large. In an effort to bolster the South
African anti-money laundering framework - Motor
Vehicle dealers, along with other dealers in high
value goods high value dealers, are now considered
to be accountable institutions in terms of Schedule
1 of the Financial Intelligence Centre Act (FIC Act).
There are a number of steps that a motor vehicle
dealer must take in order to meet the obligations
of an accountable institution. These include:
•
Registration with the FIC
•
Appointment of a money
laundering compliance officer
•
Development of a risk
management compliance program
•
Reporting to the FIC
•
Customer due diligence and risk rating
•
Proper record keeping
•
Ongoing training of employees
Ready for your first compliance submission to
the FIC due 31 July 2023?
Directive 7 serves to inform Accountable
Institutions (motor vehicle dealers included) that
they must submit information regarding their
understanding of money laundering (ML), terrorist
financing (TF) and proliferation financing (PF) risks
and their assessment of compliance with
obligations in terms of the FIC Act to the FIC
through a risk and compliance return. The
information obtained from the risk and
compliance return will assist the FIC in forming an
understanding of the levels of risk awareness and
compliance of the responding Accountable
Institution with the FIC Act and in identifying the
ML, TF and PF risks facing different Accountable
Institution sectors.
Motor vehicle dealers are required to Complete the
online risk and compliance return covering the
reporting period from 1 January 2023 to 30 June
2023, both dates inclusive. Non-submission of the
risk and compliance return will be considered
non-compliance and may result in an
administrative sanction, in accordance with section
62E read with section 43A(3) of the FIC Act.
South Africa has recently been placed on the grey
list by the Financial Action Task Force due to
inadequacies relating to our anti-money
laundering and terrorist financing framework.
Both government and the private sector are hard
at work to ensure that we are able to get off the
grey list as soon as possible. We can expect the
Financial Intelligence Centre, as the responsible
supervisor over the motor industry to conduct
onsite inspections into compliance with the FIC
Act. Those dealers found to be non-compliant can
expect the impositions of sanctions ranging from a
slap of the wrist to significant fines and even
imprisonment.
We at Navigate Compliance are in a position to
provide you with the operational implementation
and ongoing management of your compliance
obligations as an accountable institution. Click here
to find out more information about our outsourced
compliance services and AML operational centre.
Navigate Compliance is an award wining
compliance practice based in South Africa. We
specialize in helping organisations navigate
complex regulatory requirements. We have a
proven track record having worked with a wide
range of clients across sectors and jurisdictions.
Navigate has received recognition for its innovative
and effective approach to compliance and
regulatory issues and has been featured in a variety
of industry publications and media outlets.
Our strategic partners include the International
Compliance Association (ICA), International
Association of Privacy Professionals (IAPP) and the
Global Compliance Institute.
Registration Number: 2016/343423/07
BBBEE Empowerment Level 1
100% Women Owned
Play your part in
the fight against
financial crime
- What you need to know.
073 956 9407
info@navcompliance.co.za
www.navcompliance.co.za
he RMI has expressed concern about the transition to occupational
qualifications for apprentice training in the retail motor industry sec-
tor in South Africa. The RMI has been involved in the Department’s
Centres of Specialisation (CoS) project since 2017 and has played an integral
role in successfully implementing occupational certificates for the automo-
tive motor and diesel mechanic, part of the 13 priority trades. “The automo-
tive value chain represents a substantial contribution to economic activity,
with a 6.4% contribution to GDP, of which the retail sub-sector represents
2.4%,” says Jakkie Olivier, RMI Chief Executive Officer.
Olivier says that while the RMI believes that occupational qualifications
can contribute to skills development in the motor industry, it is concerned
about the potential negative impact on the country’s national artisan de-
velopment target of 30 000 artisans per year. “Previous training transitions
were not without their challenges and we anticipate similar issues for all
stakeholders and delivery partners not part of the ground-breaking DHET
initiative in 2017,” he says.
Louis van Huyssteen, RMI National Director Training, agrees saying the
organisation is equally concerned about the level of support for employers
who have apprentices enrolled across the 13 trades, of which only three
were part of the DHET project. He says that while a smooth transition to
occupational qualifications on 1 July 2023 is the ideal scenario, the RMI sug-
gests that the current time-based, learnerships and competency-based de-
livery methods should remain in place during the phased implementation of
the occupational qualifications over a period of at least 36 months.
“We recommend a pilot programme should rather be conducted
for the remaining 10 trades before implementing the new occupational
qualifications to ensure that apprentice training in the sector does not come
to an abrupt stop. This approach would allow for flexibility and transparency
in the implementation of the new qualifications,” says van Huyssteen.
“We urge all stakeholders and delivery partners to work together to ad-
dress these concerns so that there can be a smooth transition to occupa-
tional qualifications. A blended approach with occupational certificates for
apprentice training, with all social and delivery partners onboard, will bode
well for the continued supply of skilled artisans to meet employer needs. As
a sector, skills shortages in the industry remain a challenge, particularly in
the technical fields, and we need to agree on initiatives that will help attract
and draw more talent in the sector,” concludes Olivier.
RMI raises concerns about transition
to occupational qualifications