An important part of Know Your Customer (KYC) and the general FICA process is verifying the identity of your client, usually by requesting an...
Spotting Fake IDs: Why 9/10 People Fail to Spot Them - and Reliable Methods to Detect Fraudulent IDs
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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 Key Requirements That Need to be Met in Order to be FICA Compliant
The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion, and terrorist financing...
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...
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...
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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...
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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...
Everything You Need to Know About Ultimate Beneficial Owners [Part 3]
The aim of this three-part series is to connect the dots between the what, why and how of identifying Ultimate Beneficial Owners (UBO’s). So far we...
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