Strict compliance with comprehensive legislation keeps our money safe and criminals at bay. Nedbank says it has paid the penalty and acknowledged the shortcomings present in 2019, which have all since been remediated. SA has a strong and secure banking system which is governed by solid legislation, aiming to ensure a stable financial sector and payments system. The legislation safely guards depositors money, prevents abuse of borrowers and, indirectly, strives to keep everybody safer by making it difficult for criminals to do financial transactions. Sometimes, legislation such as the Banks Act, the National Credit Act and the Financial Intelligence Centre Act (Fica) place a big burden of compliance on financial institutions as well as clients. In addition, one can argue that legislation is only as good as its enforcement. That the South African Reserve Bank (Sarb) Prudential Authority (PA) fined Nedbank R35 million for not dotting all the is and crossing all the ts illustrates that authorities are strict in their enforcement of the legislation. It also underscores the need to keep the Sarb and other authorities independent. As a risk management practitioner, you are required to write a report for presentation to the Risk Committee on the actions that Nedbank has to take to ensure compliance with the Banks Act, the National Credit Act and the Financial Intelligence Centre Act (Fica) As a risk management practitioner, you are required to write a report for presentation to the Risk Committee on the actions that Nedbank has to take to ensure compliance with the Banks Act, the National Credit Act and the Financial Intelligence Centre Act (Fica) and avoid any such penalties against them in future