Banxso, Medbond, and Steinhoff drive FSCA penalties to R2.9bn
The Regulatory Actions Report shows how the Authority is combining penalties, licence withdrawals, and debarments to tackle serious misconduct.
#FinancialIntelligenceCentreAct
FIC flags filing errors as RCR deadline closes
Many institutions have left registration too late, submitted the wrong documents, or filed branch returns instead of consolidated legal entity returns.
FIC proposes annual RMCP submissions for selected institutions
The draft directive will introduce a new recurring compliance obligation, with updated programmes also having to be lodged within 10 business days of approval.
FIC clarifies geographic reporting rules in final Directive 10
The Centre has refined the directive’s scope and addressed concerns over its legal basis, administrative burden, and practical application.
Is your leadership team equipped to oversee FICA compliance?
Moonstone Compliance’s executive training gives decision-makers the knowledge to manage regulatory risk, exercise effective oversight, and strengthen governance.
FIC warns of penalties after poor RCR compliance
Less than half of the first group of accountable institutions had submitted their returns by mid-July, while submissions from the second group are low.
SARB fines Southeast Exchange R600 000 for FICA failures
An inspection by the South African Reserve Bank uncovered shortcomings in a foreign exchange dealer’s anti-money laundering compliance framework.
Parliament calls for comment on AML/CFT reform Bill
Stakeholders have until 10 August to comment on proposed amendments aimed at strengthening South Africa’s financial crime framework.
Registration closes on Monday for Moonstone’s Regulatory Update Webinar
With COFI on the horizon, the webinar will unpack its practical implications alongside key regulatory, enforcement, and FICA developments.
FSCA highlights common CASP compliance failures
The regulator reports steady progress in licensing while sharing lessons from its AML inspections of authorised providers.
RCR compliance falls short as June deadline looms
The FIC says fewer than 12% of accountable institutions facing the first filing deadline had submitted their returns by the middle of this month.
FIC finalises guidance on how to complete the 2026 RCR
PCC 60 largely preserves the draft framework but clarifies how newly registered firms must report and confirms that third parties may not submit returns.
FICA cross-border cash provisions take effect on 1 July
A proclamation brings into operation a set of dormant provisions that link cross-border cash reporting to criminal penalties and forfeiture powers.
FIC consults on targeted additions to Guidance Note 7A framework
The consultation focuses on four insertions dealing with proliferation financing, client risk categorisation, and the operation of systems and controls.
Latest FATF review puts South Africa under a harsher spotlight
Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
MPs query whether tougher AML laws are solving the problem
Treasury adviser Ismail Momoniat warns that police corruption and unfinished financial-crime cases could weigh on SA’s FATF assessment.
Opposition MPs press FIC for answers on Phala Phala matter
The Centre said the law prevents it from confirming whether it has received, analysed, or shared information relating to specific cases or individuals.
