As per the Financial Intelligence Centre Amendment Act 1 of 2017 (FICAA) Estate Agents are included in the classification of Schedule 1 Accountable Institutions and therefore are required...
Important Requirements Of The FIC Amendment Act
In our recent article we took a look at The 7 key requirements that need to be met in order to be FICA compliant. Within these 7 key requirements there are several procedures and checks...
The Inherent Money Laundering Risks in the Gambling Sector
The Financial Intelligence Centre (FIC) has recently published a report regarding an assessment into the inherent money laundering and terrorist financing risks in the gambling sector of...
An Example Of When To Conduct Enhanced Due Diligence In The Property Sector
In our last blog, There is more to KYC than Credit Checks - Client Risk Assessment for Estate Agents, it was discussed that in addition to checking credit bureaus and assessing client...
There is More to KYC than Credit Checks-Client Risk for Estate Agents
A New Lease on FICAA Compliance: Building a Client Risk Assessment Framework Brick by Brick
The Money Laundering & Terrorist Financing Vulnerabilities of SA’s Property Sector
Various categories of property transactions are undertaken in the South African property market, including in terms of undeveloped land, residential, commercial, industrial and agricultural...
The Real State of SA’s Real Estate Sector: Building Towards FICAA Compliance
The real estate and property sectors have been the subject of enhanced exposure in South Africa’s legislative and regulatory compliance landscape in 2022. The Property Practitioners Act No....
Motor Vehicle Dealers and Their Inherent Money Laundering Risks
The Financial Intelligence Centre (FIC) has published a Report regarding the inherent money laundering and terrorist financing risks encountered by South Africa’s motor vehicle dealers’...
The Key Requirements That Need to be Met in Order to be FICA Compliant
The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion, and terrorist financing activities by making it more difficult...