--- title: The Intersection Between Fraud & FICA Onboarding description: Learn how robust FICA onboarding prevents fraud through identity verification, document authentication & risk profiling. image: https://blog.kycafrica.ncino.com/hubfs/Article%20Illustration_%20The%20Intersection%20Between%20Fraud%20%26%20FICA%20Onboarding.png --- [![Docfox is now nCino KYC](https://blog.kycafrica.ncino.com/hubfs/nCino-KYC-Top-Web-Banner-HS.png)](https://blog.kycafrica.ncino.com/ncino-kyc-africa-a-vision-to-reinvent-the-future-of-fica-compliance) [![Ncino KYC Africa](https://blog.kycafrica.ncino.com/hs-fs/hubfs/raw_assets/public/ncino-theme-2025/images/ci/ncino-logo-color-invert-RGB.png?width=140&name=ncino-logo-color-invert-RGB.png "Ncino KYC Africa")](https://kycafrica.ncino.com/) - [Solutions](https://kycafrica.ncino.com/solutions/) - [Client Onboarding](https://kycafrica.ncino.com/solutions/customer-onboarding/) - [Watchlist Screening](https://kycafrica.ncino.com/solutions/watchlist-screening/) - 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[Press Releases](https://kycafrica.ncino.com/press/) - [Contact](https://kycafrica.ncino.com/contact/) - [Knowledge Base](https://kycafrica.ncino.com/#elementor-action%3Aaction%3Dpopup%3Aopen%26settings%3DeyJpZCI6IjI1MDkyIiwidG9nZ2xlIjpmYWxzZX0%3D) [Sign In](https://kycafrica.ncino.com/#elementor-action%3Aaction%3Dpopup%3Aopen%26settings%3DeyJpZCI6IjE2NzI3IiwidG9nZ2xlIjpmYWxzZX0%3D) [Request a Demo](https://kycafrica.ncino.com/request-a-demo/) Oct 27, 2025 # The Intersection Between Fraud & FICA Onboarding ![The Intersection Between Fraud & FICA Onboarding](https://blog.kycafrica.ncino.com/hubfs/Article%20Illustration_%20The%20Intersection%20Between%20Fraud%20%26%20FICA%20Onboarding.png) SHARE ``` In a world where financial crime is increasingly complex and digital, the first step you take with a client matters more than ever. Onboarding can be either your strongest line of defence, or your greatest weakness. ``` Today, fraud doesn’t always arrive wearing a mask. It can walk straight through your front door, in the form of a shell company, a stolen identity, or a politically exposed person buried in layers of ownership. During the client onboarding process, institutions face an inherent risk of internal fraud, cyber-enabled scams, and manipulation of transactional systems. With the Southern African Fraud Prevention Service (SAFPS) noting that [active fraud listings increased by 26% year-on-year in 2024 alone](https://www.safps.org.za/Home/Article_SAFPS_Annual_Report_2024), there is a growing concern that weak onboarding processes could be providing entry points for financial crime. As accountable institutions under the Financial Intelligence Centre Act (FICA), you sit at the crossroads of regulatory risk, fraud risk and reputational risk. And with the FIC tightening expectations around risk-based compliance, RMCP implementation, and beneficial ownership transparency, there’s never been a more important time to ask whether your controls are truly fit for purpose, or are you just ticking boxes?   ## **FICA Requirements During Onboarding** FICA was implemented to combat financial crimes such as money laundering, terrorist financing, and fraud. At its core, FICA onboarding is about verifying the identity of clients to ensure that accountable institutions only engage with legitimate individuals or entities.  Under FICA, accountable institutions must perform [**Customer Due Diligence (CDD)**](https://blog.kycafrica.ncino.com/the-7-key-requirements-that-need-to-be-met-in-order-to-be-fica-compliant)[during onboarding](https://blog.kycafrica.ncino.com/the-7-key-requirements-that-need-to-be-met-in-order-to-be-fica-compliant).   This refers to the process of establishing the identities of all prospective clients by collecting and analysing specific information to truly know your client and ultimately ensuring that the client is who they say they are.   To adequately perform due diligence, you will need to collect and evaluate specific information from multiple sources. This goes beyond simply reviewing documents, it also involves, among other things:  - Verifying the identity of an individual or the registration of a legal person and their address or location - Obtaining information regarding the economic sector or occupation of your client - Obtaining information regarding the source of funds, nature and purpose of your client’s relationship with you Collecting and verifying this information might sound routine, but it's at this critical juncture, during the onboarding process, that fraud often takes root.  ## **How Fraud Intersects With FICA Onboarding** Fraudsters will often exploit onboarding processes by using false identities, forged documents, or stolen credentials. Weaknesses in CDD processes open the door for such fraudulent activity. Therefore, a robust FICA compliance strategy directly helps mitigate onboarding fraud through:   1. **Identity verification** prevents fraudulent individuals from opening accounts under false pretenses. 2. **Document authentication** reduces the risk of accepting falsified or tampered documents. 3. **Risk profiling** includes the flagging of high-risk AML risk indicators to identify individuals who may need to be subjected to further scrutiny. As criminals and technology have evolved, identity verification has become increasingly complex. Despite this, many businesses still rely on manual checks, a process with significant limitations. Our research shows that [only 1 in 10 people can successfully spot a fake ID](https://blog.kycafrica.ncino.com/spotting-fake-ids-why-9/10-people-fail-to-spot-them-and-reliable-methods-to-detect-fraudulent-ids), highlighting the critical need for technology-assisted verification solutions. ## **FICA Compliance: Your First Line of Defence** FICA compliance is not only a legal obligation but also a frontline defence against fraud. A well-designed onboarding process which is aligned to FICA requirements ensures that only legitimate customers enter the financial system, protecting both institutions and the broader system from financial crime.  Implementing these controls manually creates bottlenecks that fraudsters exploit. Modern compliance requires technology that matches the speed and sophistication of financial crime.  By using a solution like nCino KYC you can speed up your onboarding while still ensuring irrefutable proof of customer identity. Our seamless digital onboarding enables real-time client verification, making it simple and easy to collect and verify facial data, client identification, and required documents. Reach out to our team to learn more about FICA Onboarding with [**Biometric Authentication and Verification.**](https://kycafrica.ncino.com/smart-fica-onboarding-with-biometric-authentication-and-verification/) ![Mahluleli Mathiya](https://blog.kycafrica.ncino.com/hubfs/South%20Africa/Mahlu-headshot-2025-bio.png) ### About the author: ### Mahluleli Mathiya | Principal Financial Crime Compliance Officer,  nCino KYC Mahluleli is a highly experienced financial crime compliance professional with over a decade of expertise in AML, CTF, forensic investigations, and regulatory compliance. He currently serves as Principal Financial Crime Compliance Officer at nCino KYC Africa, where he advises and supports accountable institutions on meeting the requirements of South Africa’s FIC Act. His career includes key roles at Ernst & Young, DocFox, and Investec Bank, where he led AML/CTF initiatives, risk-based compliance strategies, and forensic investigations. ## Related Articles - ### [RMCP Compliance: What Directive 10, 12 and GN 7B Require](https://blog.kycafrica.ncino.com/rmcp-compliance-what-directive-10-12-and-gn-7b-require) ![RMCP Compliance: What Directive 10, 12 and GN 7B Require](https://blog.kycafrica.ncino.com/hubfs/RMCP%20Compliance_%20What%20Directive%2010%2c%2012%20and%20GN%207B%20Require.jpg) - ### [Important FIC Regulatory Updates: Directive 10, Draft Directive 12 & Guidance Note 7B](https://blog.kycafrica.ncino.com/fic-updates-directive-10-draft-directive-12-guidance-note-7b) ![Important FIC Regulatory Updates: Directive 10, Draft Directive 12 & Guidance Note 7B](https://blog.kycafrica.ncino.com/hubfs/Important%20FIC%20Regulatory%20Updates_%20Directive%2010%2c%20Draft%20Directive%2012%20%26%20Guidance%20Note%207B.jpg) - ### [What Are The Key Requirements That Need to be Met in Order to be FICA Compliant?](https://blog.kycafrica.ncino.com/the-key-requirements-that-need-to-be-met-in-order-to-be-fica-compliant) ![What Are The Key Requirements That Need to be Met in Order to be FICA Compliant?](https://blog.kycafrica.ncino.com/hubfs/The%20Key%20Requirements%20That%20Need%20to%20be%20Met%20in%20Order%20to%20be%20FICA%20Compliant.jpg) - ### [What is the Complete list of Accountable Institutions Under FICA?](https://blog.kycafrica.ncino.com/accountable-institutions-under-fica-complete-list-and-compliance-obligations) ![What is the Complete list of Accountable Institutions Under FICA?](https://blog.kycafrica.ncino.com/hubfs/nCino-KYC-Accountable-Institutions-Under-FICA-Complete-List-and-Compliance-Obligations-1.jpg) - ### [Everything You Need to Know About Ultimate Beneficial Owners \[Part 1\]](https://blog.kycafrica.ncino.com/everything-you-need-to-know-about-ultimate-beneficial-owners) ![Everything You Need to Know About Ultimate Beneficial Owners \[Part 1\]](https://blog.kycafrica.ncino.com/hubfs/Business%20man%20looking%20through%20a%20filling%20cabinet%20with%20illustrated%20diagram%20of%20UBO%20structure.png) ![nCino Full colour Logo](https://blog.kycafrica.ncino.com/hubfs/nCino%20Full%20colour%20Logo.svg) Subscribe to our newsletter [Subscribe](https://share-eu1.hsforms.com/1EGe3layITCaXlgtYEX6fSwetu2j) - - - - ### Solutions - [Client Onboarding](https://kycafrica.ncino.com/solutions/customer-onboarding/) - [Watchlist](https://kycafrica.ncino.com/solutions/watchlist-screening/) - [Risk Rating](https://kycafrica.ncino.com/solutions/risk-rating/) - [Bank Account Verification](https://kycafrica.ncino.com/solutions/account-verification/) - [Compliance Services](https://kycafrica.ncino.com/solutions/compliance-services/) - [Training and Webinars](https://kycafrica.ncino.com/solutions/training-and-webinars/) ### Industries - [nCino for Banks](https://www.ncino.com/) - [High Value Goods Dealers](https://kycafrica.ncino.com/industries/high-value-goods-dealers/) - [Law Firms](https://kycafrica.ncino.com/industries/law-firms/) - [Real Estate Industry](https://kycafrica.ncino.com/industries/real-estate-industry/) - [Stock Brokers](https://kycafrica.ncino.com/industries/stock-brokerage/) - [Forex Traders](https://kycafrica.ncino.com/industries/forex-traders/) - [Financial Service Providers](https://kycafrica.ncino.com/industries/financial-advisors/) - [Credit and Lending](https://kycafrica.ncino.com/industries/credit-and-lending/) - [Motor Vehicle Dealers](https://kycafrica.ncino.com/industries/motor-vehicle-dealers/) - [Other Accountable Institutions](https://kycafrica.ncino.com/industries/other-accountable-institutions/) ### Company - [About](https://kycafrica.ncino.com/about/) - [Press Releases](https://kycafrica.ncino.com/press/) - [Careers](https://www.ncino.com/our-company/careers) - [Contact](https://kycafrica.ncino.com/contact/) - [Partner with us](https://kycafrica.ncino.com/industries/our-partners/) - [FICA FAQ's](https://kycafrica.ncino.com/fica-faqs/) ### Legal & Compliance - [Terms and Conditions](https://kycafrica.ncino.com/terms-and-conditions/) - [Privacy Statement](https://kycafrica.ncino.com/privacy-policy/) - [PAIA Manual](https://kycafrica.ncino.com/wp-content/uploads/2025/03/nCino-SA-PAIA-Manual-March-2025-2.pdf) - Cookie Settings © 2016 – 2026 nCino. 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