Last chance to register for our FICA compliance webinar
The free webinar will equip accountable institutions to follow a risk-based approach, as required by the Financial Intelligence Centre.
risk management and compliance programme
Book now for Moonstone’s FICA compliance webinar in October
The free webinar will equip you to follow a risk-based approach to compliance, as required by the Financial Intelligence Centre.
New do-it-yourself FICA compliance solution for accountable institutions
The FICA Toolkit is ideal for accountable institutions that have recently initiated their FICA compliance programmes or have relatively simple products and distribution channels.
FIC provides case studies, red flags to help you detect money laundering
Any business that fails to report ‘suspicious and unusual transactions’ faces harsh penalties.
‘New’ and ‘old’ accountable institutions must comply with the provisions of Fica
Sanctions can include a fine of up to R10 million in respect of a natural person and R50m in respect of a legal person.
New accountable institutions face hefty fines for failing to register with FIC
Centre urges new accountable institutions to register, even if they missed the deadline, to avoid non-compliance with Fica.
FSCA publishes notices issued to FSPs for Fica non-compliance
Last week, the FSCA informed subscribers to its communications that it has published, on its website, the notices of administrative sanctions that it issued to 11 FSPs for non-compliance with the Financial Intelligence […]
Inadequate money laundering risk management exposes businesses to criminal exploitation
Businesses that do not develop and implement an effective risk management and compliance programme (RMCP) are particularly vulnerable to financial crime, such as money laundering and terrorist financing. A Financial Action Task Force […]
Attorneys, FSPs and estate agents ‘most likely to be on the FIC’s radar’
Attorneys and estate agents are among the least likely to implement preventative measures to reduce money laundering and terrorist financing risks, according to the Financial Action Task Force’s Mutual Evaluation Report of South […]
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 […]
