Fic Act News Today

The Financial Intelligence Centre and the Law Society of South Africa met this week to focus on enhancing compliance of legal practitioners in terms of the Financial Intelligence Centre Act.

SPONSORED | Under the Financial Intelligence Centre Act, SA institutions step up to bolster national efforts in anti-money laundering, counter-terrorism and counter-proliferation financing

SA must tighten its money flow controls or it will remain banished to the greylist for the foreseeable future

Despite the dodgy Isis-related transactions being flagged three years ago, little action has been taken by local authorities

The FIC said work to establish the SFC unit will begin immediately, with a small core team focusing on increasing capacity.

SPONSORED | The Financial Intelligence Centre shares guidelines for property practitioners to document their company's controls against money-laundering and terrorist financing

International financial task force's report is stunning ... for all the wrong reasons. SA weakened and exposed to corruption, money laundering and terrorist financing.

SPONSORED | In terms of the FIC Act, accountable institutions such as estate agents are required to understand the beneficial ownership structure as part of their customer due diligence compliance obligations

FIC argues it is more than the court seal keeping CR17 bank records confidential 17 March 2021 - 12:23 By Franny Rabkin President Cyril Ramaphosas CR17 bank records are back in the spotlight in court. File photo. Image: GCIS Even if the high court granted the EFF the court order they want to unseal the CR17 bank records, they would still be protected from public disclosure under the Financial Intelligence Centre (FIC) Act, counsel for the FIC said in court on Wednesda...

How SAs business community is helping to combat financial crime The Financial Intelligence Centre Act, 2001, sets out SA’s regulatory framework to combat money laundering and terrorist financing 05 February 2021 - 16:33 Sponsored The Financial Intelligence Centre Act, 2001, sets out the country’s regulatory framework to combat money laundering and terrorist financing. Image: Supplied/Financial Intelligence Centre A business community that fully understands ...