With a staggering 2 - 5% of global GDP, equivalent to around $800 billion - $2 trillion, being laundered annually, the imperative for robust...
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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.
The Reality of Financial Crime in South Africa: Where do we stand and what can we do?
The greylisting of South Africa (SA) in 2023 by the Financial Action Task Force (FATF) was a wake up call to many who may not have realised the...
9 Important FICA Facts about High-Value Goods Dealers
In November 2022 the Government Gazette published changes to Schedules 1, 2 and 3 of the Financial Intelligence Centre Act (FICA). The changes...
Why do Accountable Institutions require such detailed information for FICA compliance?
The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion and terrorist financing...
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...
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...
Why is it Important to do Continuous Client Screening?
We are often asked if continuous screening is required by the Financial Intelligence Centre Act (FICA) or if it is just additional work? To answer...
Money Laundering and Terrorist Financing Risk Indicators for Accountants
As most of you may know, the draft sector risk assessment for accountants was released for comment on 6 November 2023. This was informed by the...
