LJ Financial Solutions

LJ Financial Solutions Accounting services offered at a competitive rate. We specialize in monthly bookkeeping, payroll, Vat & Income tax returns & all other SARS related issues

Accounting Services and Tax Preparation Services. We do your tax right the first time

17/04/2026

As AI technology advances, scammers are using it to deceive individuals and carry out scams.

These scams might involve using AI-generated voice, video or text to impersonate trusted sources, like bank representatives or even family members, to trick them into giving up personal information or transferring funds.

In some cases, these scams can be incredibly sophisticated, leveraging deepfakes, voice synthesis, and automated chatbots to appear more legitimate. As a result, the losses can be substantial, and some victims may lose millions before realising they’ve been scammed.

The South African Banking Risk Information Centre (SABRIC) has urged the public to exercise extreme caution as banks report a significant rise in the involvement of bank customers in fraudulent investment schemes. These scams, which promise high returns with little to no risk, have already affected thousands of customers.

The financial watchdog has also urged people to be cautious when conducting financial services business with so called ‘investments companies’, and that people should refrain from accepting financial advice, assistance, or investment offers from individuals or entities not authorised by the FSCA.

Tips

Never rely solely on a video to make investment decisions

If you receive an investment pitch via video, try to contact the company or individual through a known, verified channel like a company website or a direct phone number

If you’re unsure, reach out to a trusted financial advisor to verify the legitimacy of the investment opportunity

Be wary of high-pressure tactics. Scammers often use urgency to pressure you into making quick decisions

Be cautious of what you share online. Most of us have an online and social media presence, but the photos, videos and information we share can be exploited. These resources can train deepfakes, which, once created and shared, are difficult to detect and remove

Use AI-powered email filters to detect suspicious emails, such as those that may come from unfamiliar domains or have signs of deepfake manipulation in them. This helps reduce the chances of individuals being tricked by scammers

01/04/2026

Cash flow is the lifeblood of any small business. You can be profitable on paper and still struggle to pay suppliers, salaries or VAT if clients are not paying you on time. For many small business owners, the stress of chasing invoices is not just frustrating. It is disruptive, time consuming and financially dangerous.
Late payments from customers are not merely administrative inconveniences. They directly affect your liquidity, your ability to grow and your personal financial stability. The good news is that payment discipline can be systemised.

Set Clear Payment Terms Before Work Begins
Most payment disputes arise from unclear expectations.

Small business owners often avoid difficult conversations at the start of a relationship, whereas upfront clarity protects both parties. When expectations are communicated upfront, accountability improves

26/03/2026

Phishing

Phishing is a method used by fraudsters to obtain your sensitive information such as card number, CVV, online banking credentials etc. It is done by an email request sent with fake links to websites, prompting you to disclose information. Spot fake website URLs by checking for subtle misspellings, unusual characters, extra words, or unfamiliar domain extensions that mimic legitimate websites.

TIP
Never click on any links in an email, SMS or WhatsApp messages, even if the message appears to be from FNB, or give out sensitive information such as card details, log in credentials and one time PINs (OTPs).

26/03/2026

Courier scams

Scammers are impersonating courier companies in an attempt to obtain your sensitive information. You might receive a message that will direct you to a fake courier website. You will then be required to pay a small fee using your card and to reschedule your delivery.

TIP
Never click suspicious links or share personal details; always verify with the courier. If you fall victim, report it immediately, change your passwords, and monitor your accounts for unauthorised transactions.



Digital wallet and card fraud

This refers to any activity that involves the unauthorised use of your card information which was obtained and fraudulently added to a digital wallet to make fraudulent transactions. It happens when you unknowingly provide the fraudster with sensitive information, such as your card details, login credentials, and one-time PINs (OTPs). The fraudster then loads this information into a digital wallet and starts transacting with your card details. You will receive an inContact message when your FNB card information is being fraudulently linked to a digital wallet like Apple Pay or Google Pay.

TIP
If you have not added your card to a digital wallet and you receive a message indicating that your card is being linked to a digital wallet, do not approve this request and contact our 24/7 fraud desk

26/03/2026

Fake websites

Criminals create fake online stores that mimic legitimate retailers, offering unbelievable deals to attract shoppers. An example of this could be a fake online store that looks very similar to a popular retailer's website.The fraudulent site might have a domain name like 'bestsalesonline.shop' or 'discountdealsstore.com' and offer extremely low prices, advertising massive discounts like '70% off on all items'.

TIP
Always verify the website's URL, look for secure payment methods (like a padlock symbol), read reviews, and avoid deals that seem unrealistically good.

26/03/2026

ATM Card Swapping

Fraudsters swap your card for another one while you are busy at the ATM. They often work in groups. While one person may distract you, the other does the card swapping. They will also stand close to you to ‘shoulder surf’the PIN information. You may leave the ATM with the wrong card if you’re distracted by a scammer, allowing them to use the stolen card immediately to empty your account.

TIP
If your card is stolen, block it immediately. Don’t accept help from strangers, and always stay alert of your surroundings at the ATM.

26/03/2026

Beware of Fraudulent Calls Impersonating the Bank

Fraudsters may call you pretending to be from your bank, attempting to trick you into sharing sensitive information, such as your account details, passwords, or PINs by creating a sense of urgency or claiming suspicious activity on your account. This is also known as vishing. The bank will never ask for your full banking details over the phone, so never share sensitive information. If you receive a suspicious call, hang up immediately and call the fraud centre.

05/03/2026

Beneficial Ownership reporting is no longer a procedural submission. It is a live compliance risk. Many entities filed Beneficial Ownership details reactively when the requirements were introduced. Few have reviewed whether those disclosures remain accurate and aligned with evolving tax and trust reporting.

What you need to know…

Information filed with CIPC for companies and trusts is shared and cross referenced with SARS and other regulatory authorities. The data is analysed, reconciled and compared against tax returns, distributions, related party transactions and third-party reporting. If your declarations are inaccurate, incomplete or misaligned with your tax filings, the discrepancy will not go unnoticed.

SARS is operating within a system driven, data integrated compliance environment. This means:

Ownership disclosures are matched to income tax returns
Trust IT3(t) submissions are compared to beneficiary declarations
Dividend and distribution records are reconciled against declared ownership
Banking and transactional data is cross checked
The margin for error has narrowed significantly. Incorrect Beneficial Ownership reporting can trigger:

Compliance notices
Automated penalties
Heightened audit selection risk
Scrutiny of related party transactions
Personal exposure for trustees and directors

Social media has become a daily essential. Whether we’re connecting with loved ones, sharing our perspectives, or explor...
05/03/2026

Social media has become a daily essential. Whether we’re connecting with loved ones, sharing our perspectives, or exploring new ideas, we instinctively turn to our favourite platforms to stay informed and inspired.

But as our digital presence grows, so does the risk. These platforms have also become fertile ground for scammers looking to exploit our trust and target us when we least expect it.

Be careful not to fall for giveaways or contests that appears to good to be true, that promise you valuable prizes in exchange for your personal information

Remember that genuine giveaways will always be conducted through a company’s official channels and they will not ask you for sensitive information in order to participate.

If an investment opportunity sounds too good to be true, it probably is a scam.

When you encounter a quiz or personality test on social media that asks for unnecessary personal details or permissions, do not proceed.

Scammers can use this to trick you into answering security questions helping them to collect personal information to target you for more personalised phishing scams, hack your accounts or commit identity theft.

Always verify the sender’s identity before responding.

If in doubt, contact the person directly via call, text, or email for confirmation..

25/02/2026

As South Africa moves into 2026, the South African Revenue Service has made its position on tax compliance unmistakably clear. Enhanced enforcement, deeper data analysis, and expanded access to taxpayer financial information are now central to SARS’s operating model. For taxpayers, this means that the margin for error, omission, or delayed compliance has narrowed significantly.
While many taxpayers still view audits or enforcement action as reactive measures triggered by obvious red flags, SARS’s current capabilities suggest a far more proactive and systematic approach. Bank account scrutiny has become one of the most effective tools in identifying non-compliance.

A Data-Driven Enforcement Authority

Recent SARS tax statistics show record revenue collection alongside unprecedented levels of refunds. While these figures reflect improved revenue performance, they also highlight the effectiveness of SARS’s compliance strategies. A significant portion of collections now stems from proactive compliance initiatives rather than voluntary disclosures.

At the core of this shift is SARS’s growing reliance on advanced technology. Artificial intelligence, machine learning, and data science are increasingly used to analyse large volumes of transactional data linked to individual taxpayers and businesses. These systems allow SARS to identify inconsistencies between declared income and actual cash flow with far greater efficiency than traditional manual reviews.

This approach significantly reduces the need for broad audits while enabling SARS to focus its resources on high-risk cases identified through data analysis.

What SARS Can See and Access

Under the Tax Administration Act, SARS has extensive powers to obtain and use banking information. Financial institutions are required to report account details, interest earned, deposits, withdrawals, and loan activity to SARS on a routine basis. This information enables the tax authority to cross-check tax declarations against real financial activity.

Importantly, SARS does not need to monitor accounts in real time to exercise effective oversight. Transaction histories and bank statements can be requested during audits or investigations, often without prior notice to the taxpayer. Where discrepancies are identified, SARS is empowered to impose penalties, charge interest, and in serious cases, pursue criminal prosecution.

The Power to Recover Funds Directly

One of the most concerning aspects of SARS’s enforcement authority is its ability to recover outstanding tax debts directly from taxpayer bank accounts. Where tax liabilities remain unpaid, SARS may instruct financial institutions to freeze accounts or debit funds without the taxpayer’s consent.

The courts have consistently upheld these powers. In one notable case involving a company under business rescue, SARS successfully recovered millions in outstanding VAT directly from the company’s bank accounts after the debt was not formally excluded during the rescue process. This case underscored the importance of properly engaging with SARS and ensuring that tax matters are correctly addressed within broader financial or restructuring arrangements.
Individuals are not exempt from similar action. Where unpaid taxes persist and engagement with SARS fails, personal bank accounts may also be affected.

Why 2026 Raises the Stakes

SARS has indicated that bank account scrutiny will remain a central enforcement mechanism well into 2026. With compliance revenue continuing to grow year on year, there is little incentive for the tax authority to relax its approach. On the contrary, enforcement is expected to become more targeted, faster, and increasingly automated.

For taxpayers, this environment demands a higher standard of accuracy, transparency, and proactive compliance. Errors, omissions, or assumptions that SARS will not “notice” are increasingly risky.

The Importance of Professional Tax Oversight

In this climate, professional tax management is no longer optional. Accurate record keeping, timely submissions, and consistent alignment between declared income and actual financial activity are essential. Equally important is early engagement when disputes, cash flow challenges, or compliance risks arise.

29/09/2025

What is a phishing attack?

This fraud is used to access your personal information. It is done by email request for information or by prompting you to select a link to a fake website.

Examples of personal information

Email requests from fraudsters include phrases such as:

You need to log in to your account as you have been a victim of fraud

You've received money in your account

You need to log in to your account to prevent it from being suspended

You have violated terms and conditions

Never click on any links in an email

11/09/2025

The Fraudster

The fraudster sends a "spoofed" email that are made to look as if they were sent from SARS, but are in fact fraudulent emails aimed at enticing unsuspecting taxpayers to give out their personal information such as bank account details.

Examples include emails that appear to be from [email protected] or [email protected] indicating that taxpayers are eligible to receive tax refunds.

You, the customer

These emails contain links to false forms and fake websites made to look like the ‘real thing’, but with the aim of tricking people into entering personal information such as bank account details which the criminals then extract and use fraudulently.

Please note these are scams and SARS taxpayers should take note of the following:

Do not open or respond to emails from unknown sources

Beware of emails that ask for personal, tax, banking and eFiling details (login credentials, passwords, pins, credit / debit card information, etc.)

SARS will never request your banking details in any communication that you receive via post, email, or SMS. However, for the purpose of telephonic engagement and authentication purposes, SARS will verify your personal details. Importantly, SARS will not send you any hyperlinks to other websites – even those of banks

Beware of false SMSs remember SARS does not send *.htm or *.html attachments

SARS will never ask for your card details

Address

178B Kruger Street
Rustenburg
0299

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Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 13:00

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