Nkululeko Nkosi Puts South Africa On The Map at the IV International Olympiad on Financial Security In Russia

Final year Bachelor of Laws (LLB) student at the University of South Africa and innovator, Nkululeko Nkosi,  makes history by achieving one of the highest scores in the qualifying stages of the International Olympiad on Financial Security thrice in a row in the Jurisprudence (Law) stream — in 2022, 2023 and 2024 respectively. As a result of achieving one of the highest scores in the three instalments where South Africa participated as part of the BRICS bloc, Nkosi achieved a top 10 position in 2022, a top 7 position in 2023 and another top 10 position in 2024. For the IV International Olympiad on Financial Security, 22 000 students that wrote the qualifiers, Nkosi was one of the 600 students awarded a life‑changing opportunity to travel to the final stage held in Russia. After the finals, Nkosi returned as being the only prize winner from South Africa.

The prestigious competition was held from the 30th of September 2024 to the 4th of October 2024 where the brightest minds from 36 countries were to commune, network and innovate collaboratively in an effort to rid the world of financial crimes such as money laundering, digital identity theft, financing terrorist activities and more. The host destination for international competition was Sochi city — a beautiful summer beach resort city nestled within the Black Sea and the Caucasus Mountains. The South African team was led by Shyire Krug, the South African Forum for Russian Alumni

South Africa’s Participation In The IV International Olympiad on Financial Security in Sochi, Russia

Nkosi formed part of the South African team which entailed 10 participants and three coordinators, where he was chosen to captain this year’s team. Six students from the South African team competed in the Jurisprudence (Law) stream, three participated in the Information Security stream and one in the International Relations stream.

The idea of hosting an Olympiad which focuses primarily on financial security was initiated three years ago. Rosfinmonitoring in collaboration with the Ministry of Education & Science of the Russian Federation, the International Educational and Methodological Centre, Talent and Success Foundation, International Network AML/CFT Institute and the federal territory of Sirius are behind the initiative with full support and backing from the Kremlin.

The main goal of the Olympiad is to drive the enhancement of the information, financial and legal literacy of the younger generation whilst searching for talented youth and stimulating educational, cognitive and research activities in the field of financial security.

The Importance of the International Olympiad on Financial Security

The idea of hosting an Olympiad which focuses primarily on financial security was initiated four years ago. Rosfinmonitoring in collaboration with the Ministry of Education & Science, the International Educational and Methodological Centre, Talent and Success Foundation and the federal territory of Sirius are behind the initiative with full support and backing from the Kremlin. 

The main goal of the Olympiad is to drive the enhancement of the information, financial and legal literacy of the younger generation whilst searching for talented youth and stimulating educational, cognitive and research activities in the field of financial security. The Olympiad seeks to achieve the following tasks:

1. Creating conditions for an individual educational trajectory, promotion of the professional orientation for schoolers and students with the view of the human resources formation for the financial security system.

2. Shaping of a new way of thinking and a new format of activity, identification of talented scholars and students in the field of financial security.

3. Forming a unified educational and research space and, in the long term, creation of an information space in the field of financial security.

The brilliance of UNISA College of Law is showcased in Russia

During a busy week of workshops, networking, learning and building bridges, the team found time to experience the finest and most intriguing activities and experiences that Russian tourism can offer — from beach visits to engaging with the locals to a breathtaking experience of the Gazprom mountains. Team South Africa undoubtedly received exceptional hospitality, support and love in Sochi, Russia; whilst engaging and building relationships with their peers from the 18 nations that were represented in this year’s instalment of the competition.

Nkosi’s participation displayed the capabilities of African youth and their talent in academia, entrepreneurship and technology and gave our country the much needed dignity that it deserves — carving a path for the next generation of youth in South Africa who will shape a bright future for our country. The South African team returns with accreditation and validation for completing training in anti‑money laundering, combating financing terrorism, the use of the Graphus system to conduct financial intelligence investigations and regulatory frameworks related to digital currencies. Additionally, the seven participants were awarded with Diplomas by Yuriy Chikhanchin, the Director of the Federal Financial Monitoring Service (Rosfinmonitoring), RUDN University, Bank of Russia, The Government of Russian Federation and other strategic partners. 

International Honours & Validation 

The South African team returns with accreditation and validation for completing training in anti‑money laundering, combating financing terrorism, the use of the Graphus system to conduct financial intelligence investigations and regulatory frameworks related to digital currencies. Additionally, the seven participants were awarded with Diplomas by Yuriy Chikhanchin, the Director of the Federal Financial Monitoring Service (Rosfinmonitoring), RUDN University, The Government of Russian Federation and other strategic partners.

Nkosi intends to leverage this milestone to open up the door for other youth like himself to access international academic competitions such as the International Olympiad on Financial Security whilst driving the involvement of youth in international relations and diplomacy. Additionally, he intends on shining a light on new careers in the Anti-Money Laundering and Combating Financing Terrorism, ICT, marketing, legal and science fields. He plans on completing her degree at UNISA and working with UNISA to create a forum for AML/CFT for students which will prepare them to compete in the Olympiad in 2025. Additionally, after completing his LLB, he intends to complete a Masters of Laws (LLM) in Banking Law using all of the learnings gained from the then pursue business, technology and marketing related fields to contribute to the enhancement, progression and evolution of the Republic of South Africa.

What does the future hold for Nkosi?

On reaching the final stage and the top 10 in South Africa, Nkosi had the following to say about it: “For the third year in a row, I am extremely honoured to have captained the South African team and brought the prize home in Sochi, Russia. The international competition brings together innovators, students and experts in the fields of Anti-Money Laundering, Combating Financial Terrorism, Cybersecurity and Financial Intelligence. As an entrepreneur and law student, I am proud to carry the Mzansi flag on my back and to represent the University of South Africa”. It is without a doubt that UNISA students are capable, talented and competitive on a global level and this achievement by Nkosi  affirms and confirms that. This is a major win for the University of South Africa and the country and it all came from merit and hard work.