Research Reports (Auditing)

Permanent URI for this collectionhttp://hdl.handle.net/2263/14693

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    The role of freight forwarding companies in detecting and investigating trade-based money laundering
    (Emerald, 2024-07) Makkink, Ilse Maritha; Steyn, Blanche; Bezuidenhout, Hannes Christo; blanche.steyn@up.ac.za
    PURPOSE : This study aims to investigate the role of freight forwarding companies in detecting and reporting trade-based money laundering. The proximity of freight forwarding companies to shipping-related trade-based money laundering red flags places them in an ideal position to detect suspicious transactions. DESIGN/METHODOLOGY/APPROACH : The study used semi-structured interviews with expert participants in freight forwarding shipping and compliance aspects around freight forwarding. This study focuses on the South African context. FiINDINGS : Freight forwarding companies are well-positioned to detect, investigate and report on trade-based money laundering schemes. However, the companies are not always aware of the guidelines designed to assist in identifying trade-based money laundering schemes. Thus, freight forwarding companies develop internal processes to identify trade anomalies but are often unable to link trade anomalies to illegal financial flows and trade-based money laundering schemes. RESEARCH LIMITATIONS/IMPLICATIONS : The current regulations on money laundering can be extended to freight forwarding companies by the respective regulators for enhanced anti-money laundering protection. This study is limited to freight forwarding companies in a South African context. PRACTICAL IMPLICATIONS : Increased awareness among staff in freight forwarding companies can assist them in identifying trade-based money laundering red flags to detect and prevent trade-based money laundering schemes. SOCIAL IMPLICATIONS : This paper assists other role players and policymakers in the trade process to create a better awareness of trade-based money laundering. The limited obligations on freight forwarding companies to comply with anti-money laundering regulations lead to a more volunteer-like compliance practice. ORIGINALITY/VALUE : To the best of the authors’ knowledge, this is the first paper that offers insight into the role of freight forwarding companies in detecting trade-based money laundering in South Africa.
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    The current status of and demand for internal auditing in South African listed companies
    (University of Pretoria, 2010) Erasmus, Lourens J.; Motubatse, Kgobalale Nebbel; Van Staden, Marianne; kato.plant@up.ac.za; University of South Africa. Bureau of Market Research; University of Pretoria. Dept. of Auditing; Nelson Mandela Metropolitan University. Dept. of Auditing; Monash University (South Africa). Dept. of Auditing; Tshwane University of Technology. Dept. of Auditing; University of South Africa. College of Economic and Management Sciences; Coetzee, G.P. (Philna); Plant, Kato; Barac, Karin; Fourie, Houdini; Steyn, Blanche
    The report is an investigation by the iKUTU Research Team comprising members of staff of the Departments of Auditing at the University of South Africa (UNISA), University of Pretoria (UP), Nelson Mandela Metropolitan University (NMMU), Monash University – South Africa (MSA) and Tshwane University of Technology (TUT) in South Africa.