Free FIC webinars for accountable institutions in August
The sessions will cover institutions’ regulatory reporting obligations and establishing beneficial ownership.
#beneficialownership
FICA compliance: FSP turns a R500k sanction into a learning curve
The owner of MIKA Finansiële Dienste shares four key takeaways after successfully remediating the deficiencies in its RMCP.
Financial institutions should prepare for ‘more demanding’ AML/CFT review
The FATF’s mutual evaluation in April 2027 will drill down into how well AML/CFT measures work in practice rather than just ticking technical boxes.
SA nears grey list exit after complying with all 22 action items
South Africa now awaits an on-site visit by the FATF Africa Joint Group – paving the way for an anticipated exit from the grey list at the October plenary.
SA leads in anti-money laundering in the real estate sector
The OREO Index, developed by leading anti-corruption experts, assesses the robustness of real estate data and anti-money laundering laws.
What if your client’s beneficial owner is in a sanctioned jurisdiction?
Clients with UBOs in sanctioned areas face enhanced risk, potentially triggering relationship termination and strict regulatory measures.
SA won’t get off the grey list in June – Treasury now aiming for October
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
SA racing against February deadline if it wants to exit grey list by mid-2025
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
Small FSP that was fined R1.1m shares four lessons in FICA compliance
The owner of MIKA Finansiele Dienste emphasises that waiting for an audit before getting your house in order can have costly consequences.
Moonstone Compliance’s beneficial ownership webinar is fully booked
Please send us an email if you want to access the recording of the webinar.
FIC publishes finalised guidance on beneficial ownership
Public Compliance Communication 59 has been issued following two rounds of public consultation.
Second round of consultations on beneficial ownership guidance
The Financial Intelligence Centre has published its responses to the comments it received during the first round of consultations.
Directory of the FIC’s compliance communications issued in 2023
The directory contains a brief description of each document, a link to the document and, where available, links to other communication related to it.
FIC extends deadlines to comment on two draft guidance communications
These are the PCCs relating to beneficial ownership and the targeted financial sanctions obligations.
FIC publishes draft guidance on how accountable institutions can identify beneficial ownership
The draft public compliance communication provides guidance on how to establish the beneficial owners of legal persons, trusts, partnerships, and non-governmental organisations.
