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Unusual numbers of cash transactions for substantial amounts or a large number of small transactions that add up to a substantial amount.
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Where anyone in the company knows or suspects that Brantam is about to, or has received the proceeds of any unlawful activity.
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Where the money is received for no apparent business or lawful purpose.
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Where the client is investing a substantial amount but has no tax reference number (if the client earns more than R60 000 per annum a tax number is required by law).
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Where the business is conducted in a manner so as to avoid a reporting duty in terms of these rules (i.e. splitting of investments).
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Where the funds received may be as a result of any tax evasion or attempted evasion.
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A delay in the provision of information to enable verification to be completed.
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Any transaction that is unnecessarily complex.
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Transactions with companies whose identity or beneficial ownership is difficult to establish.
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The formation of companies or trusts with no apparent commercial or other purpose.
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A client requesting special arrangements for vague purposes.
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Any transaction involving an undisclosed party.
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Early termination of the investment.
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A transfer of money or a product to a third party.
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Attempts to use a third party cheque to make payment.
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A lack of concern on the part of a client for the performance of an investment, with more concern for the conditions of encashment.
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The applicant requests to make payment with foreign currency or by wire transfer from another country without substantiation.
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The client provides fictitious information.
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The client uses a mailing address in another jurisdiction and the telephone has been disconnected when phoned for verification.
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Any employees, agents or brokers who suddenly show a lavish lifestyle; an unexpected and dramatic increase in sales; or use their own business address as the delivery address for a client's documentation.
