The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion, and terrorist financing...
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Keep informed and updated with the latest in FICA compliance / Anti-Money Laundering News as well as the latest DocFox offerings and services.
FIC Issues Final Guidance on FICA Implementation with Release of Guidance Note 7A
On 13 February, the Financial Intelligence Centre (FIC) issued the final version of Guidance Note 7A, which provides clarity and assistance regarding...
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...
From 25% to 5%: South Africa’s New Ultimate Beneficial Ownership (UBO) Guidance Explained
In the ongoing battle against financial crime, South Africa has taken a significant step forward. The Financial Intelligence Centre (FIC) has...
Digging Deeper: Changes to Ultimate Beneficial Ownership (UBO) Guidance
Certain types of legal entities, such as companies, trusts, and partnerships, can be particularly susceptible to misuse by criminals due to their...
The Beneficial Ownership Register: What You Need to Know
In keeping with addressing deficiencies outlined by the FATF and its consequential grey listing of South Africa, the CIPC has been mandated in terms...
