![]() All businesses have to report various suspicious transactions to the FIC. The FIC Act introduces a regulatory framework of measures that requires certain categories of business to take steps regarding client identification, record-keeping, reporting of information and internal compliance structures. The FIC’s mandate is to: identify the proceeds of crime, combat money laundering, and terror financing supervise and enforce compliance with the FIC Act share information with law enforcement authorities, supervisory bodies, intelligence services, the South African Revenue Service, and other local and international agencies facilitate effective supervision and enforcement by supervisory bodies formulate and lead the implementation of policy regarding money laundering and the financing of terrorism provide policy advice to the Minister of Finance and uphold the international obligations and commitments required by the country in respect of anti-money laundering and combating financing of terrorism (AML/CFT). The Entity was established by the FIC Act 38 of 2001 and reports to the Minister of Finance and to Parliament. ![]() The FIC was established to identify proceeds of crime, combat money laundering, and the financing of terrorism and, in so doing, has a primary role to protect the integrity of South Africa’s financial system. ![]() ![]() The Financial Intelligence Centre (FIC) is South Africa’s national centre for the gathering, analysis and dissemination of financial intelligence. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |