Illicit funds acquired through predicate crimes need to be cleaned before they can be enjoyed without raising suspicion. As we all know criminals...
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Keep informed and updated with the latest in FICA compliance / Anti-Money Laundering News as well as the latest nCino KYC offerings and services.
FICA Compliance Is More Than A Checklist
Knowing your client is a fundamental part of the due diligence required by the Financial Intelligence Centre Amendment Act (FICAA). The FICAA...
New Anti-Corruption Advisory Council tasked with fighting financial crimes
On Thursday 11 February, President Cyril Ramaphosa distinctly laid out four pillars for 2021, including the management of Covid-19, accelerating...
Ultimate Beneficial Owners – Finding needles in haystacks
Those with less honourable intentions may seek the opportunity to retain control over criminally derived assets while frustrating the ability of law...
FICA vs. Legal Confidentiality
More often than not in the legal profession client-attorney confidentiality is what puts clients at ease. Clients feel safe and guarded knowing that...
Risk-Based Approach for the Legal Profession
As mentioned in our previous post: "FICA to FICAA” an important component of the Financial Intelligence Centre Amendment Act 1 of 2017 (FICAA) is the...
What Happens When a FIC Inspector Calls
Accountable and Reportable Institutions are subject to inspection to assess their level of compliance with the Financial Intelligence Centre Act...
The FIC 2019/2020 Report
Accountable and Reportable Institutions are required to report suspicious transactions and activities to the FIC, as well as cash transactions over...