The Financial Intelligence Centre (FIC) recently issued a Draft Directive 9 that will require Accountable Institutions that engage in crypto asset transfers for or on behalf of their...
The Significance of FICA Compliance: Why it Matters to All of Us
With a staggering 2% to 5% of global GDP, equivalent to around R20 billion in South African terms, being laundered annually, the imperative for robust anti-money laundering and counter...
SA’s Greylisting - A Year in, the Long Road to Redemption
February 2024 marks a year since South Africa (SA) was placed on the greylist by the Financial Action Task Force (FATF). We take a look at the progress made in addressing the deficiencies...
2023 Round-Up: A Summary of Greylisting, New FICA Directives & Amendments
2023 has been a year filled with changes to the FIC Act, updates within the financial crime and compliance landscape, and many more. However, it all came down to the “G” word, otherwise...
Webinar Summary: Navigating the Path to FATF Delisting - What you Need to Know
DocFox hosted a webinar on 29 March where Hawken McEwan, Director of Risk and Compliance at DocFox discussed what “greylisting” is, its effects, and how by addressing its deficiencies,...
The FATF Greylists South Africa - What Does This Mean?
“Greylisting” is all the buzz at the moment, but how did we get here and more importantly how do we get out?
New Politically Exposed and Prominent Influential Persons Acronyms in Terms of the FIC Act
The past few months have seen a wide variety of important amendments occurring within the Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) space as part of South Africa’s...
New Accountable Institutions in Terms of the FIC Act
At the end of 2022 we published an article to communicate the new categories made in Schedule 1 to the FICA, which is the schedule listing all Accountable Institutions (AIs), and which are...
Recent Important FICA Amendments you Should be Aware of
The past few months have seen a wide variety of important amendments occurring within the Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) space as part of South Africa’s...