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.
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.
Read moreNo evidence that staff were instructed to verify prospective clients’ addresses using blank letters provided by the municipality, FST finds.
This applies to some of the persons who became accountable institutions in terms of the amendments to Schedule 1 of Fica.
The content of the webinar is specifically for individuals or businesses that recently became accountable institutions.
The Financial Intelligence Centre publishes an authoritative guidance document.
The FICA Toolkit is ideal for accountable institutions that have recently initiated their FICA compliance programmes or have relatively simple products and distribution channels.
Complying with the FIC’s Directive 8 without falling foul of the Employment Equity Act, which protects employees from unfair discrimination.
We are giving away two-and-a-half hours of Fica compliance expertise on 7 June.
The Financial Intelligence Centre reminds accountable institutions listed under Schedule 1 of the Financial Intelligence Centre Act of the looming deadlines to submit their respective risk and compliance return questionnaires by the end of May and July 2023.
The FSCA wants to know whether applicants are compliant with the Financial Intelligence Centre Act.
This applies to legal practitioners, company and trust service providers, estate agents, and casinos.
Any business that fails to report ‘suspicious and unusual transactions’ faces harsh penalties.
A ‘high-value goods dealer’ means any business that sells goods with a price tag of R100 000 or more.
‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’
A deeper look at what accountable institutions must do to comply with the Financial Intelligence Centre’s directive.
The Authority is looking into allegations that the company was involved in money laundering.
Sanctions can include a fine of up to R10 million in respect of a natural person and R50m in respect of a legal person.