Tribunal rejects debarred FNB representative’s ‘prevailing practice’ defence
No evidence that staff were instructed to verify prospective clients’ addresses using blank letters provided by the municipality, FST finds.
customer due diligence
How crypto asset service providers must comply with Fica
The Financial Intelligence Centre publishes an authoritative guidance document.
FIC issues guidance note on electronic funds transfers
How accountable institutions must apply the SA Reserve Bank’s directive of 2022.
What’s ‘new’ in the PA’s directive relating to Fica and life insurance beneficiaries?
Three things to note when it comes to customer due diligence and assessing money laundering and terrorist financing risk.
How accountable institutions should meet their Fica obligations in the context of Popia
An accountable institution should ask only for personal information that is necessary to achieve the purposes of Fica.
FIC issues guidance on assessing money laundering risk
The Financial Intelligence Centre (FIC) has issued a public compliance communication (PCC) that clarifies the requirement to determine whether a prospective client, existing client, the beneficial owner of the client and person acting […]
FIC issues guidance on assessing money laundering risk
The Financial Intelligence Centre (FIC) has issued a public compliance communication (PCC) that clarifies the requirement to determine whether a prospective client, existing client, the beneficial owner of the client and person acting […]
