On 13 February, the Financial Intelligence Centre (FIC) issued the final version of Guidance Note 7A, which provides clarity and assistance regarding...
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Essential Reporting Obligations for Accountable Institutions
As an Accountable Institution (AI), a certain amount of anxiety arises when the topic of reporting obligations and the appropriate timing for...
2024 Round-Up: Strengthening FICA Compliance in the Fight Against Financial Crime
The year 2024 has been marked by significant events that have impacted South Africa's financial landscape. From global cocaine smuggling operations...
From the Street to the Boardroom: The Shocking Reality of Money Laundering in South Africa
South Africa’s battle against crime isn’t just fought on the streets—it is waged in online meetings, boardrooms, banks, and businesses nationwide. As...
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...
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...
Anti-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...
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...
