our net1 solutions business unit is responsible for the worldwide technical development and commercialization of our array of web and mobile applications and payment technologies , such as mvc , chip and gsm licensing and vtu , and has deployed solutions in many countries , including south africa , namibia , nigeria , malawi , cameroon , the philippines , india and colombia . sources of revenue we generate our revenues by charging transaction fees to government agencies , merchants , financial service providers , utility providers , bill issuers , employers , healthcare providers and cardholders ; by providing loans and insurance products and by selling hardware , licensing software and providing related technology services . 39 we have structured our business and our business development efforts around four related but separate approaches to deploying our technology . in our most basic approach , we act as a supplier , selling our equipment , software , and related technology to a customer . the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . we have found that we have greater revenue and profit opportunities , however , by acting as a service provider instead of a supplier . in this approach we own and operate the ueps ourselves , charging one-time and on-going fees for the use of the system either on a fixed or ad valorem basis . this is the case in south africa , where we distribute welfare grants on behalf of the south african government on a fixed fee basis , but charge a fee on an ad valorem basis for goods and services purchased using our smart card . the revenue and costs associated with this approach are reflected in our south african transaction processing and financial inclusion and applied technologies segments . because our smart cards are designed to enable the delivery of more advanced services and products , we are also willing to supply those services and products directly where the business case is compelling . for instance , we provide short-term loans to our smart card holders . this is an example of the third approach that we have taken . here we can act as the principal in operating a business that can be better delivered through our ueps . we can also act as an agent , for instance , in the provision of insurance policies . in both cases , the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . in south africa , we also generate fees from debit and credit card transaction processing , the provision of value-added services such as bill payments , mobile top-up and prepaid utility sales , and from providing a payroll transaction management service . the revenue and costs associated with these services are reflected in our south african transaction processing and financial inclusion and applied technologies segments . through ksnet , we earn most of our revenue from payment processing services we provide to approximately 237,000 merchants and to card issuers in south korea through our value-added-network . through masterpayment and transact24 we generate fee revenue through the provision of payment service provider and card issuing and acquiring services in primarily germany , china and the u.s. furthermore , in the u.s. , we earn transaction fees from our customers utilizing our xeorules online real-time management system for healthcare transactions . we also generate fees from our customers who utilize our vcpay technology to generate a unique , one-time use prepaid virtual card number to securely purchase goods and services or perform bill payments in any card-not-present environment . the revenue and costs at of all of these businesses are reflected in our international transaction processing segment . finally , we have business partnerships or joint ventures to introduce our financial technology solutions to markets such as namibia , one credit in nigeria , and mobikwik in india . in these situations , we take an equity position in the business while also acting as a supplier of technology . in evaluating these types of opportunities , we seek to maintain a highly disciplined approach , carefully selecting partners , participating closely in the development of the business plan and remaining actively engaged in the management of the new business . in most instances , the joint venture or partnership has a license to use our proprietary technologies in the specific territory , including the back-end system . we also own 26 % of finbond group limited , or finbond , a south african public company that has a mutual banking license in south africa and owns certain state lenders in the u.s. we account for our equity investments using the equity method . we believe that this flexible approach enables us to drive adoption of our solution while capturing the value created by the implementation of our technology . developments during fiscal 2017 sassa contract extended to march 31 , 2018 our contract signed in february 2012 with sassa was scheduled to expire on march 31 , 2017. at a parliamentary briefing session on february 1 , 2017 , sassa informed the meeting that it would not be ready to assume the payment function on april 1 , 2017. sassa expressed its intention to approach the constitutional court to obtain permission to extend our contract . on february 9 , 2017 , we received a letter from sassa that essentially was an invitation to meet to discuss an interim arrangement to continue with the payment of social welfare grants after march 31 , 2017 , for a limited period . story_separator_special_tag in june 2017 , mr. herman g. kotzé became our chief executive officer , replacing mr. s.c.p . belamant , who retired as chief executive officer . mr. kotzé has been our chief financial officer , secretary and treasurer since 2004 , and will retain these positions until a suitable candidate is identified and engaged to perform these functions . 43 closure of doj investigation related to 2012 sassa contract in july 2017 , we were advised that the u.s. department of justice had closed its investigation concerning possible violations of the fcpa . the investigation commenced in november 2012 , following the award of the sassa national contract to us in january 2012. the closing of the doj investigation follows the united states securities and exchange commission closing their investigation in june 2015 , the dismissal of a shareholder class action law suit by the u.s. southern district in september 2015 , and the south african police service 's directorate for priority crime investigation , the hawks , closing their investigation in november 2015. critical accounting policies our consolidated financial statements have been prepared in accordance with u.s. gaap , which requires management to make estimates and assumptions about future events that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities . as future events and their effects can not be determined with absolute certainty , the determination of estimates requires management 's judgment based on a variety of assumptions and other determinants such as historical experience , current and expected market conditions and certain scientific evaluation techniques . management believes that the following accounting policies are critical due to the degree of estimation required and the impact of these policies on the understanding of the results of our operations and financial condition . business combinations and the recoverability of goodwill a component of our growth strategy has been to acquire and integrate businesses that complement our existing operations . the purchase price of an acquired business is allocated to the tangible and intangible assets acquired and liabilities assumed based upon their estimated fair value at the date of purchase . the difference between the purchase price and the fair value of the net assets acquired is recorded as goodwill . in determining the fair value of assets acquired and liabilities assumed in a business combination , we use various recognized valuation methods , including present value modeling . further , we make assumptions using certain valuation techniques , including discount rates and timing of future cash flows . we review the carrying value of goodwill annually or more frequently if circumstances indicate impairment may have occurred . in performing this review , we are required to estimate the fair value of goodwill that is implied from a valuation of the reporting unit to which the goodwill has been allocated after deducting the fair values of all the identifiable assets and liabilities that form part of the reporting unit . the determination of the fair value of a reporting unit requires us to make significant judgments and estimates . in determining the fair value of reporting units , we consider the earnings before interest , taxation , depreciation and amortization , or ebitda , and the ebitda multiples applicable to peer and industry comparables of the reporting units . we base our estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain . in addition , we make judgments and assumptions in allocating assets and liabilities to each of our reporting units . the results of our impairment tests during fiscal 2017 indicated that the fair value of our reporting units exceeded their carrying values and therefore our reporting units were not at risk of potential impairment . intangible assets acquired through acquisitions the fair values of the identifiable intangible assets acquired through acquisitions were determined by management using the purchase method of accounting . we completed acquisitions during fiscal 2017 and 2016 where we identified and recognized intangible assets . we have used the relief from royalty method , the multi-period excess earnings method , the income approach and the cost approach to value acquisition-related intangible assets . in so doing , we made assumptions regarding expected future revenues and expenses to develop the underlying forecasts , applied contributory asset charges , discount rates , exchange rates , cash tax charges and useful lives . the valuations were based on information available at the time of the acquisition and the expectations and assumptions that have been deemed reasonable by us . no assurance can be given , however , that the underlying assumptions or events associated with such assets will occur as projected . for these reasons , among others , the actual cash flows may vary from forecasts of future cash flows . to the extent actual cash flows vary , revisions to the useful life or impairment of intangible assets may be necessary . 44 deferred taxation we estimate our tax liability through the calculations done for the determination of our current tax liability , together with assessing temporary differences resulting from the different treatment of items for tax and accounting purposes . these differences result in deferred tax assets and liabilities which are disclosed on our balance sheet . management then has to assess the likelihood that deferred tax assets are more likely than not to be realized in future periods . in the event it is determined that the deferred tax assets to be realized in the future would be in excess of the net recorded amount , an adjustment to the deferred tax asset valuation allowance would be recorded . this adjustment would increase income in the period such determination was made . likewise , should it be determined that all or part of the net deferred tax asset would not be realized in the future , an adjustment to increase the deferred tax asset valuation allowance would be charged to income

cash flows from operating activities in zar , cash flows from operating activities for fiscal 2017 decreased to $ 97.2 million ( zar 1.3 billion ) from $ 116.6 million ( zar 1.7 billion ) for fiscal 2016. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the decrease relates primarily to the growth of masterpayment 's working capital finance offering and the separation payment made to our former chief executive officer , offset by an increase in cash from operating activities resulted from improved trading activity during fiscal 2017. during fiscal 2017 , we paid interest of $ 1.5 million under our south korean debt facility . in zar , cash flows from operating activities for fiscal 2016 increased to $ 116.6 million ( zar 1.7 billion ) from $ 135.3 million ( zar 1.5 billion ) for fiscal 2015. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the increase in cash from operating activities resulted from improved trading activity during fiscal 2016. during fiscal 2016 , we paid interest of $ 3.3 million under our south korean debt facility . during fiscal 2017 , we made a first provisional tax payment of $ 18.2 million ( zar 252.0 million ) and a second provisional tax payment of $ 17.2 million ( zar 221.7 million ) related to our 2017 tax year in south africa . we paid dividend withholding taxes of $ 1.5 million ( zar 21.3 million ) . we also paid taxes totaling $ 8.1 million in other tax jurisdictions , primarily south korea . during fiscal 2016 , we made a first provisional tax payment of $ 16.0 million ( zar 239.9 million ) and a second provisional tax payment of $ 13.7 million ( zar 207.3 million ) related to our 2016 tax year in south africa . we paid dividend withholding taxes of $ 4.2 million ( zar 60.0 million ) . we also paid taxes totaling $ 5.0 million in other tax jurisdictions , primarily south korea .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows from operating activities in zar , cash flows from operating activities for fiscal 2017 decreased to $ 97.2 million ( zar 1.3 billion ) from $ 116.6 million ( zar 1.7 billion ) for fiscal 2016. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the decrease relates primarily to the growth of masterpayment 's working capital finance offering and the separation payment made to our former chief executive officer , offset by an increase in cash from operating activities resulted from improved trading activity during fiscal 2017. during fiscal 2017 , we paid interest of $ 1.5 million under our south korean debt facility . in zar , cash flows from operating activities for fiscal 2016 increased to $ 116.6 million ( zar 1.7 billion ) from $ 135.3 million ( zar 1.5 billion ) for fiscal 2015. excluding the impact of interest received , interest paid under our korean debt and taxes presented in the table below , the increase in cash from operating activities resulted from improved trading activity during fiscal 2016. during fiscal 2016 , we paid interest of $ 3.3 million under our south korean debt facility . during fiscal 2017 , we made a first provisional tax payment of $ 18.2 million ( zar 252.0 million ) and a second provisional tax payment of $ 17.2 million ( zar 221.7 million ) related to our 2017 tax year in south africa . we paid dividend withholding taxes of $ 1.5 million ( zar 21.3 million ) . we also paid taxes totaling $ 8.1 million in other tax jurisdictions , primarily south korea . during fiscal 2016 , we made a first provisional tax payment of $ 16.0 million ( zar 239.9 million ) and a second provisional tax payment of $ 13.7 million ( zar 207.3 million ) related to our 2016 tax year in south africa . we paid dividend withholding taxes of $ 4.2 million ( zar 60.0 million ) . we also paid taxes totaling $ 5.0 million in other tax jurisdictions , primarily south korea .
```    
 Suspicious Activity Report : our net1 solutions business unit is responsible for the worldwide technical development and commercialization of our array of web and mobile applications and payment technologies , such as mvc , chip and gsm licensing and vtu , and has deployed solutions in many countries , including south africa , namibia , nigeria , malawi , cameroon , the philippines , india and colombia . sources of revenue we generate our revenues by charging transaction fees to government agencies , merchants , financial service providers , utility providers , bill issuers , employers , healthcare providers and cardholders ; by providing loans and insurance products and by selling hardware , licensing software and providing related technology services . 39 we have structured our business and our business development efforts around four related but separate approaches to deploying our technology . in our most basic approach , we act as a supplier , selling our equipment , software , and related technology to a customer . the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . we have found that we have greater revenue and profit opportunities , however , by acting as a service provider instead of a supplier . in this approach we own and operate the ueps ourselves , charging one-time and on-going fees for the use of the system either on a fixed or ad valorem basis . this is the case in south africa , where we distribute welfare grants on behalf of the south african government on a fixed fee basis , but charge a fee on an ad valorem basis for goods and services purchased using our smart card . the revenue and costs associated with this approach are reflected in our south african transaction processing and financial inclusion and applied technologies segments . because our smart cards are designed to enable the delivery of more advanced services and products , we are also willing to supply those services and products directly where the business case is compelling . for instance , we provide short-term loans to our smart card holders . this is an example of the third approach that we have taken . here we can act as the principal in operating a business that can be better delivered through our ueps . we can also act as an agent , for instance , in the provision of insurance policies . in both cases , the revenue and costs associated with this approach are reflected in our financial inclusion and applied technologies segment . in south africa , we also generate fees from debit and credit card transaction processing , the provision of value-added services such as bill payments , mobile top-up and prepaid utility sales , and from providing a payroll transaction management service . the revenue and costs associated with these services are reflected in our south african transaction processing and financial inclusion and applied technologies segments . through ksnet , we earn most of our revenue from payment processing services we provide to approximately 237,000 merchants and to card issuers in south korea through our value-added-network . through masterpayment and transact24 we generate fee revenue through the provision of payment service provider and card issuing and acquiring services in primarily germany , china and the u.s. furthermore , in the u.s. , we earn transaction fees from our customers utilizing our xeorules online real-time management system for healthcare transactions . we also generate fees from our customers who utilize our vcpay technology to generate a unique , one-time use prepaid virtual card number to securely purchase goods and services or perform bill payments in any card-not-present environment . the revenue and costs at of all of these businesses are reflected in our international transaction processing segment . finally , we have business partnerships or joint ventures to introduce our financial technology solutions to markets such as namibia , one credit in nigeria , and mobikwik in india . in these situations , we take an equity position in the business while also acting as a supplier of technology . in evaluating these types of opportunities , we seek to maintain a highly disciplined approach , carefully selecting partners , participating closely in the development of the business plan and remaining actively engaged in the management of the new business . in most instances , the joint venture or partnership has a license to use our proprietary technologies in the specific territory , including the back-end system . we also own 26 % of finbond group limited , or finbond , a south african public company that has a mutual banking license in south africa and owns certain state lenders in the u.s. we account for our equity investments using the equity method . we believe that this flexible approach enables us to drive adoption of our solution while capturing the value created by the implementation of our technology . developments during fiscal 2017 sassa contract extended to march 31 , 2018 our contract signed in february 2012 with sassa was scheduled to expire on march 31 , 2017. at a parliamentary briefing session on february 1 , 2017 , sassa informed the meeting that it would not be ready to assume the payment function on april 1 , 2017. sassa expressed its intention to approach the constitutional court to obtain permission to extend our contract . on february 9 , 2017 , we received a letter from sassa that essentially was an invitation to meet to discuss an interim arrangement to continue with the payment of social welfare grants after march 31 , 2017 , for a limited period . story_separator_special_tag in june 2017 , mr. herman g. kotzé became our chief executive officer , replacing mr. s.c.p . belamant , who retired as chief executive officer . mr. kotzé has been our chief financial officer , secretary and treasurer since 2004 , and will retain these positions until a suitable candidate is identified and engaged to perform these functions . 43 closure of doj investigation related to 2012 sassa contract in july 2017 , we were advised that the u.s. department of justice had closed its investigation concerning possible violations of the fcpa . the investigation commenced in november 2012 , following the award of the sassa national contract to us in january 2012. the closing of the doj investigation follows the united states securities and exchange commission closing their investigation in june 2015 , the dismissal of a shareholder class action law suit by the u.s. southern district in september 2015 , and the south african police service 's directorate for priority crime investigation , the hawks , closing their investigation in november 2015. critical accounting policies our consolidated financial statements have been prepared in accordance with u.s. gaap , which requires management to make estimates and assumptions about future events that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities . as future events and their effects can not be determined with absolute certainty , the determination of estimates requires management 's judgment based on a variety of assumptions and other determinants such as historical experience , current and expected market conditions and certain scientific evaluation techniques . management believes that the following accounting policies are critical due to the degree of estimation required and the impact of these policies on the understanding of the results of our operations and financial condition . business combinations and the recoverability of goodwill a component of our growth strategy has been to acquire and integrate businesses that complement our existing operations . the purchase price of an acquired business is allocated to the tangible and intangible assets acquired and liabilities assumed based upon their estimated fair value at the date of purchase . the difference between the purchase price and the fair value of the net assets acquired is recorded as goodwill . in determining the fair value of assets acquired and liabilities assumed in a business combination , we use various recognized valuation methods , including present value modeling . further , we make assumptions using certain valuation techniques , including discount rates and timing of future cash flows . we review the carrying value of goodwill annually or more frequently if circumstances indicate impairment may have occurred . in performing this review , we are required to estimate the fair value of goodwill that is implied from a valuation of the reporting unit to which the goodwill has been allocated after deducting the fair values of all the identifiable assets and liabilities that form part of the reporting unit . the determination of the fair value of a reporting unit requires us to make significant judgments and estimates . in determining the fair value of reporting units , we consider the earnings before interest , taxation , depreciation and amortization , or ebitda , and the ebitda multiples applicable to peer and industry comparables of the reporting units . we base our estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain . in addition , we make judgments and assumptions in allocating assets and liabilities to each of our reporting units . the results of our impairment tests during fiscal 2017 indicated that the fair value of our reporting units exceeded their carrying values and therefore our reporting units were not at risk of potential impairment . intangible assets acquired through acquisitions the fair values of the identifiable intangible assets acquired through acquisitions were determined by management using the purchase method of accounting . we completed acquisitions during fiscal 2017 and 2016 where we identified and recognized intangible assets . we have used the relief from royalty method , the multi-period excess earnings method , the income approach and the cost approach to value acquisition-related intangible assets . in so doing , we made assumptions regarding expected future revenues and expenses to develop the underlying forecasts , applied contributory asset charges , discount rates , exchange rates , cash tax charges and useful lives . the valuations were based on information available at the time of the acquisition and the expectations and assumptions that have been deemed reasonable by us . no assurance can be given , however , that the underlying assumptions or events associated with such assets will occur as projected . for these reasons , among others , the actual cash flows may vary from forecasts of future cash flows . to the extent actual cash flows vary , revisions to the useful life or impairment of intangible assets may be necessary . 44 deferred taxation we estimate our tax liability through the calculations done for the determination of our current tax liability , together with assessing temporary differences resulting from the different treatment of items for tax and accounting purposes . these differences result in deferred tax assets and liabilities which are disclosed on our balance sheet . management then has to assess the likelihood that deferred tax assets are more likely than not to be realized in future periods . in the event it is determined that the deferred tax assets to be realized in the future would be in excess of the net recorded amount , an adjustment to the deferred tax asset valuation allowance would be recorded . this adjustment would increase income in the period such determination was made . likewise , should it be determined that all or part of the net deferred tax asset would not be realized in the future , an adjustment to increase the deferred tax asset valuation allowance would be charged to income

