In keeping with addressing deficiencies outlined by the FATF and its consequential grey listing of South Africa, the CIPC has been mandated in terms...
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Articles
Keep informed and updated with the latest in FICA compliance / Anti-Money Laundering News as well as the latest nCino KYC offerings and services.
What is a FICA Compliance Officer?
In terms of the Financial Intelligence Centre Act (“FICA”), one of the key requirements includes and forms the backbone of the legislation, is for...
What you Need to Know About the FIC Directive 6 & 7: Risk & Compliance Returns
Directive 6 & Directive 7 serve to inform certain Accountable Institutions that they must submit information regarding their understanding of money...
What is Required for the FIC Directive 8: Screening Employees
The purpose of Directive 8 is to require Accountable Institutions to screen prospective employees and current employees for competence and integrity,...
5 Examples of KYC According to the FIC Act
As an Accountable Institution, one of the key compliance obligations in terms of the Financial Intelligence Centre Act, as amended (FICA), is to...
Prevent Your Business from Being Involved in a Money Laundering Scheme
Money laundering refers to the passing of illicit , or ‘dirty’ money, through a sequence of transfers, changes or commercial transactions that...
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?
Do Rental Agents Need to FICA Tenants and Landlords?
A question that we often get asked is whether or not rental agents need to FICA their rental clients. The answer is yes you do! As per the FIC Act,...
