The Financial Intelligence Centre recently issued its 2021/2022 Annual Report and we thought it prudent and useful to detail the important considerations, facts, highlights and learnings...
7 Reasons Why You Should Automate Your FICA Process
There is no doubt that software and digital solutions have forever changed how businesses manage their regulatory compliance. The concept of digital transformation and Regulatory Technology...
How to FICA a Deceased Estate
One of the questions we frequently get asked is “How to FICA a Deceased Estate”. Below we will explore what a Deceased/Late Estate (Estate) is and what Customer Due Diligence (CDD)...
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’...
FICA Handbook For Accountable Institutions
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...
What Documents do I Need to Perform Due Diligence in line with the FICAA?
A frequently asked question among Accountable Institutions (AIs) is “What documents should I be requesting in order to adequately perform FICA for certain clients or situations”. As the...