FIC to launch inspections on CASPs amid growing regulatory scrutiny
The Financial Intelligence Centre’s sector final risk assessment report for crypto asset service providers is set to be published in the new financial year.
FIC
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
Moonstone Compliance’s beneficial ownership webinar is fully booked
Please send us an email if you want to access the recording of the webinar.
Legal practitioners reminded to comply with the Financial Intelligence Centre Act
The Financial Intelligence Centre sets out legal practitioners’ obligations under the FIC Act.
FIC publishes finalised guidance on beneficial ownership
Public Compliance Communication 59 has been issued following two rounds of public consultation.
FIC report on how accountable institutions can identify money mule activity
The Centre’s analysis found the extensive use of shell companies to host and conceal fraudulent funds.
Unlicensed crypto and OTC derivative providers in FSCA’s crosshairs
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
FIC invites comments on its draft risk assessment report for crypto asset service providers
The inherent risk of money laundering and terrorist financing for CASPs in South Africa is high, the report says.
The most common reason FSPs got into FICA trouble
The main reason the FSCA fined FSPs in terms of the Financial Intelligence Centre Act (FICA) last year was for failing to implement a risk management and compliance programme (RMCP), the Financial Intelligence […]
FIC reporting failure guidelines issued
The Financial Intelligence Centre (the Centre) has issued Public Compliance Communication 50 (PCC 50), which provides guidance and clarity on the measures a reporter must take to mitigate the loss of intelligence data […]
FIC reporting failure guidelines issued
The Financial Intelligence Centre (the Centre) has issued Public Compliance Communication 50 (PCC 50), which provides guidance and clarity on the measures a reporter must take to mitigate the loss of intelligence data […]
FIC guidance on risks related to geographical areas
The Financial Intelligence Centre (FIC) has issued Public Compliance Communication 49 (PCC 49) that provides guidance on certain money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risk considerations and provides suggested […]
FIC guidance on risks related to geographical areas
The Financial Intelligence Centre (FIC) has issued Public Compliance Communication 49 (PCC 49) that provides guidance on certain money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risk considerations and provides suggested […]
Motor dealers – Make sure you know where your client’s money is coming from
“The motor vehicle dealers’ sector is a lure for criminals to hide their illicit proceeds, which poses a serious threat to South Africa’s financial system. Criminals can potentially launder large amounts of money […]
FICA – Considerations relating to geographic areas published
The Financial Intelligence Centre (FIC) is calling for comments from accountable institutions, reporting institutions, supervisory bodies and other persons on the draft Public Compliance Communication 110 (draft PCC 110). According to the Consultation […]
FIC Webinars – Four opportunities to obtain a better understanding
The Financial Intelligence Centre (FIC), South Africa’s national centre for the receipt of financial data, analysis and dissemination of financial intelligence to the competent authorities, will be hosting various insightful webinars in November: […]
