FIC issues sanction notices to non-compliant law firms and estate agents
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
Solidarity and AfriForum are the first out of the starting blocks with legal challenges to the NHI Act.
Read moreThe response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
The relevant accountable institutions must submit the RCRs to avoid additional scrutiny or administrative sanctions.
Non-submission of the RCR required by Directive 6 will prevent the Financial Intelligence Centre from demonstrating compliance with the FATF’s action plan.
The risk assessment reports are intended to help accountable institutions understand their money laundering and terrorism financing risks.