FICA – Page 5 – Moonstone Information Refinery

Budget: Key changes for taxpayers and investors

The fines on both banks run into millions of rands, but most of the penalties are conditionally suspended.

The owner of MIKA Finansiele Dienste emphasises that waiting for an audit before getting your house in order can have costly consequences.

The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.

The Prudential Authority discovered the non-compliance during a routine inspection conducted four years ago.

Please send us an email if you want to access the recording of the webinar.

The Financial Intelligence Centre sets out legal practitioners’ obligations under the FIC Act.

Public Compliance Communication 59 has been issued following two rounds of public consultation.

The non-compliance was discovered during inspections by the Prudential Authority in 2020 and 2022.

The bank also faces a R4.9bn claim arising from SARS’s alleged inability to collect taxes and penalties from former foreign exchange clients.

Moonstone Compliance offers a range of services in respect of FICA and anti-money laundering compliance aimed at accountable institutions.

Please send us an email if you want to access a recording of the webinar.

The effective fine of R7 million and other sanctions follow an inspection conducted four years ago.

The sanctions follow an inspection of the Bank of China’s Johannesburg branch three years ago.

The High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.

Moonstone Business School of Excellence equips financial professionals with CPD solutions for regulatory compliance.

Implementing – not merely creating – a Risk Management and Compliance Programme is crucial to ensure compliance with the Act.

The free webinar will equip accountable institutions to follow a risk-based approach, as required by the Financial Intelligence Centre.