Dear Guardians of Good Judgment,

Some celebrated Global Ethics Day with thoughtful reflections. Others celebrated by stealing €88 million in French Crown Jewels.

If ever there was a month that captured both sides of human nature, this was it. In this edition we unpack ethics in leadership, lending, and daily conduct, because it’s not just art that needs guarding.

After all, in compliance, as in the Louvre: it’s always the “unguarded moment” that makes the headlines.

South Africa has officially been removed from the FATF greylist, a major win for the country’s financial credibility. But, as the Louvre learned this month, prestige alone doesn’t protect the collection. Sustaining reforms and reputations depends on daily discipline. For accountable institutions, this is a reminder that compliance isn’t a finished masterpiece; it’s a living exhibit that needs constant care.

Why it matters:
Under FICA, ongoing employee training is a legal requirement. Regulators expect accountable institutions to show clear evidence that staff have received updated, risk-based training. Proof that your culture of vigilance is on display, not in storage.

Next steps:
Celebrate the win by letting your teams know South Africa is off the greylist, they’ve helped make it happen.

Coming off the greylist showed what’s possible when compliance becomes part of the national identity. But the FIC’s latest review now asks whether that commitment is truly framed and hanging on the wall.

Casinos and company service providers achieved full Regulatory Compliance Report (RCR) submission under Directives 6 and 7, but legal practitioners, CASPs, and HVGDs lagged behind, some with compliance rates as low as 54%.

Why it matters:
Having an RMCP is like owning fine art: it only inspires confidence when it’s displayed and cared for. That’s why the RCR matters: it demonstrates that institutions have controls (like training) in place and reveals how effectively they’re managed within their RMCPs.

In a recent GroundUp piece, “What Makes an Ethical Judge?”, the author argues that good judges aren’t just clever, they are consistent. Integrity, humility, independence, and impartiality are what give their decisions weight.

The same goes for business leaders. Ethical authority isn’t about knowing every rule. It’s about applying them with fairness and courage, even when no one’s applauding. It’s less about robes and gavels, more about judgement that stands up to daylight.

When senior leaders complete and publicly endorse ethics and governance training it sends a powerful signal: culture starts at the top. It’s an opportunity to make ethics visible … and contagious.

While we’re on the subject of leadership … at the Global Ethics Forum 2025, South African experts Liezl Groenewald and Carike Noeth urged boards to move beyond compliance checklists. Their message: real governance takes ethical courage, transparency, and adaptability, not an annual refresher.

Here are some of their suggestions:

And while we were on the subject of judges …. a Judicial Conduct Tribunal has revealed how an Eastern Cape Judge President abused his position through months of unwanted advances. It’s a story that proves not all who judge, lead.

Why it matters:
This case reminds us that harassment doesn’t always shout. Sometimes it hides behind rank, reputation, or robes. Power can be misused quietly, through pressure or fear of reprisal, making robust reporting systems essential.

Organisations should review their policies to ensure harassment definitions of misuse of power and authority are explicitly included. Naming the behaviour helps surface it.

South Africa’s retail sector is facing what Polity.org.za calls “unprecedented” levels of cybercrime and fraud, with breaches now costing an average of R40 million per incident!

What's happening:
The cause isn’t always high-tech. Often it’s the human brushstrokes: errors, shortcuts, complacency. From cashiers handling payment data to managers reviewing supplier invoices, every role carries risk.

Why it matters:
Retail is a high-velocity environment. Data moves fast, money moves faster. When employees aren’t trained to see fraud as their problem, the organisation becomes an easy target. The article calls for “regular cybersecurity awareness sessions and simulations tailored to the retail environment” and urges businesses to move beyond generic annual training toward role-specific, continuous learning.

The SCA has ruled that “on-the-road,” admin, and similar add-on fees in vehicle finance deals are not allowed under the National Credit Act (NCA). Banks and dealers must now review agreements and refund consumers for any unlawful charges.

Why it matters:
This ruling speaks directly to finance, sales, and marketing teams who handle pricing, disclosures, and customer agreements. Everyone involved in vehicle or asset finance must understand what qualifies as a permitted credit cost under the NCA, and how unclear fees can breach both the NCA and Consumer Protection Act (CPA).

Merci for reading.

If this month proved anything, it’s that ethics can’t be locked in a glass case. They have to be lived, daily.

Here’s to strong controls, stronger cultures, and staff who know the difference between taking ownership and taking the Crown Jewels.

À bientôt,
The Compliance Online team