Accountable institutions face crippling penalties if their KYC screening fails to flag a client as a Politically Exposed Person (PEP). As the nation...
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A Guide on How to Prepare for a FIC Inspection
Notice of a FIC inspection often happens with very little warning. Our expert compliance team has assisted many businesses with guidance regarding...
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...
The Importance of DPEPs and the Role They Play in the FIC Act
More often than not we see those who hold public or prominent positions in society make the headlines for links to financial crimes such as bribery,...
The Most Comprehensive DPEP Database in South Africa
When discussing Anti-Money Laundering there has always been the concept of a Politically Exposed Person (PEP) which recognises that people in...
Understanding, Identifying and Working with DPEPs and FPEPs
In a recent blog we took a look at The FIC Amendment Act of 2017 (FICAA) and highlighted key concepts which changed from when the Act came into...