The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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The Financial Intelligence Centre (FIC) has published Public Compliance Communication 44 (PCC 44) which applies to accountable institutions (AI), reportable institutions (RI) and all other relevant persons. PCC 44 aims to provide guidance on the […]
The Financial Intelligence Centre (FIC) has published Public Compliance Communication 44 (PCC 44) which applies to accountable institutions (AI), reportable institutions (RI) and all other relevant persons. PCC 44 aims to provide guidance on the […]
The Financial Intelligence Centres recently published Draft Public Compliance Communication 108 (PCC 108) with the objective to provide clarity on certain practical application issues relating to the on-boarding of a client in terms of Chapter 3 […]
The Financial Intelligence Centre (FIC) has just published Public Compliance Communication No 43 (PCC43). The objective of the communication is to provide accountable institutions (AI) with the FIC’s view on compliance with their customer […]
After a successful consultation process, the Financial Intelligence Centre has updated its guidance on suspicious and unusual transaction reporting, which relates to section 29 of the Financial Intelligence Centre Act, 2001 (Act 38 of […]
The Financial Intelligence Centre recently sent a guidance note to all Accountable Institutions to assist them in assessing their readiness to comply with the amended legislation which came into effect on 13 June and […]
On 15 June 2017, the Minister of Finance announced the coming into operation of a number of provisions of the Financial Intelligence Centre Amendment Act, 2017 (the FIC Amendment Act). There are two important dates […]
The Financial Intelligence Centre (FIC) has issued a Revised Public Compliance Communication 05B (PCC) which provides clarity to accountable and reporting institutions on their obligations of registration with the FIC. This revised PCC […]
Registration Guidelines on Youtube The Financial Intelligence Centre created a Youtube channel containing videos on registering on the goAML system. They currently detail: The documents required Process for Entities already registered with the […]
The Financial Intelligence Centre published PCC36 which provides clarity on the obligations of accountable institutions and other persons assisting clients in making use of the 2016 Special Voluntary Disclosure Programme (2016 SVDP) which […]
The FIC published two new notices on 25 April: Notice 1: “The FIC is in the process of validating the applications of those registrants who have applied for access and to whom the […]
The alarm bells went off just after 8 am last Thursday as we started getting frantic calls from compliance officers about ORG Number notification emails sent to FSPs with instructions how to verify […]
I recently spoke to a broker in the North-West Province who only conducts short-term business, but is also licenced for several other categories. This is quite common – many of those who applied […]
The FIC issued two new directives applicable to all accountable and reporting institutions: Directive 1 stipulates that “All institutions registered with the FIC are required to update their registration details only via the […]
A recent request from the FIC contained a request for all accountable and reporting institutions to ensure that their records at the Centre are up to date and accurate. The actual directive spelling […]
In a directive published last week, the Financial Intelligence Centre (the FIC) requested all institutions registered with it to update their details on the FIC’s electronic platform. In order to verify that your […]
