FIC issues sanction notices to non-compliant law firms and estate agents
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Read moreThe response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
The relevant accountable institutions must submit the RCRs to avoid additional scrutiny or administrative sanctions.
Non-submission of the RCR required by Directive 6 will prevent the Financial Intelligence Centre from demonstrating compliance with the FATF’s action plan.
The Financial Intelligence Centre says many accountable institutions have ignored its instructions to submit a risk and compliance return.