Reviewed evidence for the retained instruments. The wider curated handbook remains in review.
Prepare the bank, open the account only when CDD can be completed, then monitor, report and retain records.
Action: The bank needs a documented and implemented risk management and compliance programme (RMCP), approved by its board or senior management. Train employees in the Act and RMCP, meet FIC registration and information-update duties, and screen prospective and current employees periodically for competence and integrity on a risk-based basis. Directive 8 also requires employee sanctions scrutiny on the specified Director notice, documented methods and outcome records available to the FIC or supervisor on request. These are bank-level controls, not extra customer documents.
Next: Compliance owner: confirm the RMCP and applicable registration status. Separately, PA supervisory guidance recommends a documented business-risk methodology, senior-management approval of the assessment, issue tracking and gap remediation. For a new product or technology adopted by the institution, that guidance says risk assessment must precede launch or use; it is not a freestanding statutory duty.
Next step: Identify the customerPA Guidance Note G5/2024, paragraph 3.2.2 Mapped obligation
PA Guidance Note G5/2024, paragraph 3.2.2: The methodology should cover purpose, assessment period and frequency, stakeholders, assessment design and residual-risk calculation. After the assessment, the process should obtain senior-management approval of the assessment and track issues and remediate gaps identified through it.
PA Guidance Note G5/2024, paragraph 3.7.2 Mapped obligation
PA Guidance Note G5/2024, paragraph 3.7.2: The bank should review and score each product or service. Each business unit can determine offering volumes and related account balances or transactions, and that data can be used to assess exposure. Accountable institutions should also be aware of innovative services or technologies delivered using the bank’s services by other providers. When the institution adopts a new product or technology, a risk assessment must take place before product launch and technology utilisation; this is wording in supervisory guidance, not a freestanding statutory duty.
Section 42 Mapped obligation
An accountable institution must develop, document, maintain and implement a programme for managing money laundering, terrorist financing and proliferation financing risk and compliance. The programme must let it identify, assess, monitor, mitigate and manage the risk of its products and services, and must set out how it identifies clients, applies section 20A, verifies identity, assesses consistency of transactions, applies additional measures for legal persons, trusts and partnerships, conducts ongoing due diligence, examines complex or unusual transactions and keeps written findings, re-confirms doubtful information, handles suspicious transactions, terminates relationships, identifies politically exposed and prominent influential persons, applies enhanced and simplified due diligence, keeps records, decides and makes reports, manages foreign branches and subsidiaries and runs group-wide programmes. It must state which paragraphs do not apply and why, be approved by the board or highest authority, be reviewed regularly, be available to employees involved in relevant transactions, and be given to the Centre or its supervisory body on request.
Section 42A Mapped obligation
An accountable institution's board of directors (or senior management if it has no board) must ensure the institution and its staff comply with FICA and its Risk Management and Compliance Programme; a corporate accountable institution must also have a compliance function and give it a suitably senior, competent person, and a non-corporate institution (other than a sole practitioner) must appoint someone competent to assist its own senior person with the same job.
Section 43B Mapped obligation
Every accountable institution in Schedule 1 and reporting institution in Schedule 3 must register with the Centre within the prescribed period and in the prescribed manner, with the particulars the Centre requires, and must notify the Centre in writing of any change to those particulars within 90 days. Regulation 27A sets the period at 90 days from a Schedule amendment adding the institution’s category or from opening a new business.
Regulation 27A Mapped obligation
The original 2010-2011 registration window is historical. Under the retained consolidation, a category added to Schedule 1 or Schedule 3 must register within 90 days after Gazette publication; a person/category commencing a new business within either Schedule must register within 90 days after opening. Registration is electronic through the Centre’s specified portal. A person lacking technical capability must use the Centre’s specified form/contact; the regulation’s fallback is not the broader indefinite-inability rule in regulation 22(2). Registration is not licensing and has no fee. Separately, FICA section 43B(4) requires a registered institution to notify changes to its particulars in writing within 90 days after the change.
Section 43 Mapped obligation
An accountable institution must provide ongoing training to employees so they can comply with the applicable requirements of the Act and the institution’s RMCP, including applicable money-laundering, terrorist-financing and proliferation-financing controls and sanctions obligations.
Directive 8, paragraph 2.3 Mapped obligation
The bank must screen prospective and current employees for competence and integrity periodically, using a risk-based approach. This is not customer screening.
Directive 8, paragraph 2.4 Mapped obligation
On a FIC Director notice under FICA section 26A(3), the bank must scrutinise prospective/current employee information to determine whether an employee is named. This is not general customer screening.
Directive 8, paragraph 2.5 Mapped obligation
The bank must set out and record how it will conduct paragraph 2.3 screening and paragraph 2.4 employee-information scrutiny. This concerns process design, not customer documents.
Directive 8, paragraph 2.6 Mapped obligation
The bank must keep outcome records for competence/integrity screening and paragraph 2.4 employee-information scrutiny.
Directive 8, paragraph 2.7 Mapped obligation
On request, the bank must make records about employee-screening methods and outcomes available to the FIC or relevant supervisory body.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Identify and verify the individual. FIC guidance expects full names and date of birth, and in most cases a government-issued unique identifying number. Collecting these attributes is distinct from verifying them against reliable, independent evidence. The bank chooses its risk-appropriate documentary or electronic method; this is not a universal passport-and-utility-bill package. Government sources are preferred as far as practicable; exceptional alternatives need adequately managed risk. The bank remains responsible for due diligence when selecting an electronic solution and provider. Where someone acts for another, also identify the relevant people and verify the required authority. Anonymous or apparent false or fictitious names cannot be used.
Next: Decision: identity and any required authority verified? Continue, or use the failed-CDD decision.
Next step: Purpose and expected fundsSection 20A Mapped obligation
An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name. The prescribed R5,000 minimum for the defined term "single transaction" does not limit this prohibition, because the definition expressly excepts section 20A.
Section 21 Mapped obligation
When entering into a single transaction or establishing a business relationship, an accountable institution must, under its Risk Management and Compliance Programme, establish and verify the identity of the client; if the client acts for another person, that person’s identity and the client’s authority; and if another person acts for the client, that person’s identity and authority. For a business relationship that existed before the Act took effect, it may not conclude a transaction until it has taken the prescribed steps to identify and verify those persons and to trace all accounts involved in that relationship.
Paragraph 83 Mapped obligation
The note distinguishes collecting identity information during onboarding or a transaction from verifying it against reliable and independent third-party records.
Paragraph 85 Context
For a natural person, the note expects identity processes always to use full names and date of birth and, in most cases, a government-issued unique number. It does not prescribe a universal document pack.
Paragraph 88 Context
For basic-identity verification, the guidance says accountable institutions should use government-issued or controlled sources as far as practicable. Only exceptionally, and only when the institution is confident it can adequately manage ML, TF and PF risks, should it use a non-original source.
Paragraph 90 Context
An accountable institution remains responsible when using electronic services and receives no automatic indemnity. It should conduct due diligence in choosing the electronic provider and solution.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Obtain information about the nature and intended purpose of the relationship and the source of funds the customer expects to use. This establishes the expected account profile for later monitoring. Guidance says section 21A information need not itself be verified for veracity, but the bank must obtain sufficient information. That qualification does not waive identity verification or additional source-of-funds measures where enhanced due diligence applies.
Next: Record the information obtained for later consistency checks.
Next step: Risk, PEPs and sanctionsSection 21A Mapped obligation
When establishing a business relationship, an accountable institution must also obtain information about the nature and intended purpose of the relationship and the source of the funds the client expects to use, so it can later judge whether transactions are consistent with what it knows about the client.
Paragraph 125 Mapped obligation
The note says the programme should describe the information approach and identifies occupation or business, expected fund origins and anticipated account activity as potentially relevant.
Paragraph 126 Context
Information obtained under section 21A must be sufficient for understanding the client and relationship and may be accepted at face value for that purpose; the guidance says its veracity need not be verified. The statement covers section 21A information, including expected source-of-funds information described in paragraphs 123 and 125. It does not exempt identity verification or other risk-based checks, or establish a general source-of-funds exemption.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Apply the bank’s RMCP to assess customer and relationship risk and determine the appropriate due diligence. A foreign politically exposed person (PEP) requires senior-management approval, reasonable source-of-wealth and source-of-funds measures, and enhanced monitoring. The domestic PEP rule depends on the relationship being higher risk; retain that distinction for defined family members and known close associates. Guidance does not prescribe universal verified wealth documents. Separately, the bank needs the capability to determine whether prospective and existing customers are subject to targeted financial sanctions; risk affects the extent of screening, not whether this capability is needed. A PEP match is not itself a sanctions match.
Next: Decision: apply the relevant enhanced checks and approval. A PEP match does not itself prohibit an account. Sanctions permission requires actual written authority under section 26C, not managerial discretion or a delegation alone. The prominent-influential-person category also needs its applicable definition and commencement checked; do not infer it from a job title alone.
Next step: Open or stopSection 42 Mapped obligation
An accountable institution must develop, document, maintain and implement a programme for managing money laundering, terrorist financing and proliferation financing risk and compliance. The programme must let it identify, assess, monitor, mitigate and manage the risk of its products and services, and must set out how it identifies clients, applies section 20A, verifies identity, assesses consistency of transactions, applies additional measures for legal persons, trusts and partnerships, conducts ongoing due diligence, examines complex or unusual transactions and keeps written findings, re-confirms doubtful information, handles suspicious transactions, terminates relationships, identifies politically exposed and prominent influential persons, applies enhanced and simplified due diligence, keeps records, decides and makes reports, manages foreign branches and subsidiaries and runs group-wide programmes. It must state which paragraphs do not apply and why, be approved by the board or highest authority, be reviewed regularly, be available to employees involved in relevant transactions, and be given to the Centre or its supervisory body on request.
Section 21F Mapped obligation
If a prospective client or their beneficial owner is a foreign politically exposed person, the institution must get senior management sign-off before taking them on, find out the source of their wealth and funds, and watch the relationship more closely on an ongoing basis.
Section 21G Mapped obligation
If a prospective client or their beneficial owner is a South African (domestic) politically exposed person or a prominent influential person, and the institution assesses the relationship as higher-risk, it must get senior management sign-off, establish the source of wealth and funds, and apply enhanced ongoing monitoring, in the same way as for a foreign PEP.
Section 21H Mapped obligation
Sections 21F and 21G also apply to a foreign or domestic PEP, or a PIP, through their immediate family members and known close associates. Immediate family includes a current or previous spouse, civil partner or life partner; children and stepchildren and their spouse, civil partner or life partner; parents; and siblings and stepsiblings and their spouse, civil partner or life partner. Apply section 21F to a foreign PEP case; apply section 21G’s higher-risk relationship condition to a domestic PEP or PIP case. Family or associate status alone does not remove that distinction.
Section 26B Mapped obligation
No person may directly or indirectly acquire, collect, use, possess or own relevant property; make property, a financial or other service, or economic support available; facilitate those activities; deal or transact with related property; or arrange to enable retention/control, conversion, concealment, removal or transfer to a nominee. The prohibition covers use for the benefit of, on behalf of, at the direction of or under the control of a UN Security Council-identified person/entity, including a person/entity acting on its behalf or at its direction. The statutory intention or knowledge/ought-reasonably-to-have-known-or-suspected tests apply as specified in subsections (1)-(3). Do not wait for a local notice before recognising section 26A’s immediate-effect rule; resolve a potential name match separately from identity, designation, affected property and authority to deal.
Section 26C Context
The Minister may, on the Minister’s own initiative or on an affected person’s request, give written permission on appropriate conditions for specified financial services or dealing with section 26B property only in the stated circumstances and consistently with the relevant UN Security Council resolution. This can include basic expenses, qualifying pre-identification judgments/contracts, interest or earnings, and the specified third-party payment. These grounds do not themselves authorise a bank to deal. The Minister may delegate the power to the Director in writing subject to limits and conditions. Delegation alone is not permission for a bank’s dealing.
Paragraph 139 Mapped obligation
The note does not treat a domestic politically exposed person or prominent influential person as automatically high risk; it calls for an individual assessment and says elevated cases receive the foreign-person measures.
Paragraph 140 Mapped obligation
Foreign PEP relationships are always high-risk: obtain senior-management approval before establishment, take reasonable measures to establish source of wealth and source of funds, and conduct enhanced ongoing monitoring. The source-of-wealth/funds information need not be verified, but must be included in the client profile used for monitoring. Section 21H extends sections 21F/21G to immediate family and known close associates of foreign or domestic PEPs/PIPs as applicable. Domestic PEP/PIP relationships are not inherently high-risk; assess each on its merits under paragraph 139. This does not establish PIP commencement or a threshold.
Paragraph 153 Context
Section 21H applies the section 21F/21G measures, as applicable, to immediate family members and known close associates of foreign or domestic PEPs/PIPs. The applicable category’s risk treatment carries through: domestic PEP/PIP relationships are not inherently high-risk and are assessed individually under paragraph 139. This does not establish PIP commencement or any threshold.
Paragraph 198 Mapped obligation
Accountable institutions must be able to determine whether an existing or prospective client is a sanctioned person or entity. Institutions likely to encounter them should be able to screen existing and prospective clients at take-on and later when the UNSC adopts new or expands existing TFS measures. Likelihood informs the screening discussion and resources, not a waiver of capability; paragraph 200 rejects low-risk assessment or commercial-provider reliance as a defence.
Paragraph 199 Mapped obligation
The note links screening resources to the likely exposure of the customer base and target market, highlighting cross-border relationships as a risk factor.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Distinguish preparatory account-opening work from giving effect to a transaction. FIC guidance allows preparatory steps, but not executing a transaction before required verification or exposing funds to unmitigated risk. Remediable pending information is not automatically an inability to complete CDD. The RMCP should define the relevant timeframes and refusal, transaction-stop and termination decisions. Once the bank establishes that it cannot complete required CDD, section 21E requires the applicable refusal or transaction stop, termination of an existing relationship in accordance with the RMCP, and consideration of a section 29 report.
Next: Decision: complete the outstanding CDD under the RMCP without permitting unverified transactions. If actual inability is established, apply the relevant refusal or stop and terminate an existing relationship in accordance with the RMCP; consider reporting. This is not automatic closure on the first missing field.
Next step: Monitor and reportSection 21E Mapped obligation
If an accountable institution cannot identify/verify a client, obtain the section 21A business-relationship information, or carry out ongoing due diligence, it must not start or continue the relationship or transaction (or must end an existing relationship, under its Risk Management and Compliance Programme), and must consider making a section 29 report.
Paragraph 120 Mapped obligation
The note places identity verification within the relationship or transaction process and says it must be completed before the institution executes the transaction or gives effect to it.
Paragraph 121 Mapped obligation
The note allows preparatory onboarding steps before verification is complete but warns against creating unmitigated exposure, such as receiving or releasing funds prematurely.
Paragraph 122 Mapped obligation
The note says the institution’s programme should define verification timing and how risks are controlled when verification is not finished at the start of a relationship or transaction.
Paragraph 135 Mapped obligation
The note calls for a case-specific assessment of whether a CDD failure can be rectified before ending a relationship; refusal after warning and a reasonable response opportunity points toward discontinuance.
Paragraph 137 Mapped obligation
The RMCP must set out the information-gathering sequence, when verification of a prospective client’s identity must be completed, and when the institution concludes it cannot conduct appropriate CDD if information is not forthcoming in entering a business relationship or concluding a single transaction. Separately, it must provide how to terminate an existing relationship when CDD cannot be completed.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Conduct ongoing due diligence against the customer’s expected profile, scrutinise complex, unusually large or unexplained transaction patterns, and keep identification information current. Record findings as required by the guidance. Later doubts about CDD information require renewed measures to the necessary extent, not an automatic repeat of every onboarding check. Assess each reporting duty only when its own trigger applies; these are not one generic alert.
Next: Decision: a reporting trigger or doubt about CDD arises? Follow the applicable report, timing and information requirements and re-verify where required. On becoming aware of a covered reporting failure, immediately notify the named FIC executive in writing and request an engagement on mitigation under Directive 3A. That process does not excuse the failure or suspend continuing reporting duties.
Next step: Records and exitThese periods come from the retained Regulations: “days” for regulation 24 excludes Saturdays, Sundays and public holidays. Internal approval does not restart a trigger. The R100,000 physical cross-border cash rule is separate from these bank thresholds.
| Report | When it applies | Timing and qualifications |
|---|---|---|
| Cash threshold report | Section 28: a concluded client cash payment or receipt, including the specified representative branches, strictly above R49,999.99. This is not every electronic payment. | As soon as possible; at most 3 defined days after the specified person becomes aware of a fact of the cash transaction exceeding the prescribed limit. |
| International funds transfer report | Section 31: electronically sending money out of South Africa or receiving it from abroad on behalf or on the instruction of another person, strictly above R19,999.99. Not a domestic transfer or physical cash conveyance. | As soon as possible; at most 3 defined days from the regulation 24 awareness trigger, read with section 31’s prescribed period after transfer. Not an unrestricted late-discovery safe harbour. |
| Terrorist-property report | Section 28A: possession or control of the specified property. No cash or transfer monetary floor applies. | As soon as possible; at most 5 defined days after the specified natural person establishes possession or control. Later filing needs FIC approval; the request must reach the FIC before expiry. |
| Section 29 transaction and activity reports | Four report classes: suspicious/unusual transaction, suspicious/unusual activity, terrorist-financing transaction and terrorist-financing activity. Apply the relevant knowledge or suspicion conditions, including the specified enquiries, attempted transactions and activity branches. No minimum transaction value. These are separate from possession or control of terrorist property. | As soon as possible; at most 15 defined days after the specified person becomes aware of the reportable fact. Later filing requires FIC approval, not an automatic extension. |
Section 21C Mapped obligation
Throughout a business relationship, an accountable institution must monitor transactions (including the source of funds and any complex, large or unusual-pattern transaction with no apparent lawful purpose) to check they are consistent with what it knows about the client, and keep the client's identification information up to date; if continuing this process would tip the client off to a section 29 report, the institution may stop the due diligence and consider reporting instead.
Section 21D Mapped obligation
After concluding a single transaction or establishing a business relationship, repeat the section 21/21B steps under the RMCP to the extent necessary to confirm previously obtained information if its veracity or adequacy is in doubt, or if a section 29 suspicious or unusual transaction report is made. Section 21C(2) separately permits the institution to discontinue the ongoing CDD process under that section and consider reporting where it suspects the specified suspicious or unusual transaction or activity and reasonably believes that performing that CDD would disclose that a section 29 report will be made. This is not an automatic exemption from re-verification whenever a tipping-off concern is raised.
Section 1 Context
This section defines terms used throughout FICA. A "single transaction" is outside a business relationship and normally must meet the prescribed minimum value, but that value limitation expressly does not apply for section 20A. The section also defines accountable institution, client, business relationship, beneficial owner, money laundering, proceeds of unlawful activities, the Centre and other terms.
Regulation 1 Context
This regulation defines terms used in the Regulations, including report types and their FICA sections. For regulation 24 only, “days” means every day except Saturdays, Sundays and public holidays. That defined count governs the regulation 24 report periods; it does not by itself define a different period such as FICA section 43B’s 90 days.
Paragraph 128 Mapped obligation
Ongoing measures identify activity inconsistent with knowledge of the client or relationship and assess possible grounds for an ML, TF or PF suspicion report. Give particular attention to complex or unusually large transactions and unusual patterns without apparent business or lawful purpose. If the institution suspects suspicious or unusual activity and believes continuing CDD would disclose to the client that a section 29 report will be made, it may discontinue that CDD and consider a report; neither step is automatic under this paragraph.
Paragraph 130 Mapped obligation
The note says the programme should cover review and recordkeeping for complex or unusually large activity and patterns lacking an apparent business or lawful purpose.
Paragraph 132 Mapped obligation
Where the later doubts or suspicion described in paragraph 131 arise, the institution repeats the relevant sections 21 and 21B steps in accordance with its RMCP and only as far as necessary to confirm information that must be verified. It is not an unconditional repeat-onboarding check.
Section 28 Mapped obligation
Report each qualifying cash transaction to the Centre as soon as possible and no later than 3 days after the specified person becomes aware of a fact that the cash transaction exceeded the prescribed limit. Regulation 24 defines days for its reporting periods as all days except Saturdays, Sundays and public holidays. Internal review or approval does not replace the statutory awareness trigger or the prompt-filing duty.
Section 28A Mapped obligation
An accountable institution holding or controlling property in the specified terrorism-related or UN-designation categories must report the fact and prescribed particulars as soon as possible, with regulation 24 imposing an outer limit of 5 defined days after a specified natural person establishes that the institution has the property. A request for a later date must reach the Centre before that period expires, and late reporting requires Centre approval; neither internal approval nor a request alone extends the deadline. The Director may require interval reports and reports of changes. On a section 26A(3) notice, scrutinise client information to identify listed clients.
Section 29 Mapped obligation
A person carrying on, managing or working for any business must report to the Centre when the statutory knowledge or suspicion grounds arise, including receipt/expected receipt of unlawful proceeds or terrorist-financing property; specified suspicious/unusual, tax-evasion, terrorist-financing or section 26B-related transactions; or use of the business for money laundering or terrorist financing. This includes a transaction about which enquiries are made that would have had a listed consequence if concluded. Report the grounds and prescribed particulars as soon as possible and within the regulation 24 outer limit of 15 defined days after the relevant fact becomes known to the specified person. The Centre may approve later filing, but approval is not automatic. The duty is not limited to a completed transaction, an existing relationship, cash/IFT threshold, or PEP/sanctions match. Do not disclose the report or its contents except within the statutory permitted routes.
Section 31 Mapped obligation
An accountable institution must report a qualifying cross-border electronic funds transfer as soon as possible and no later than 3 days under regulation 24 after the specified person becomes aware of a fact that the transfer exceeded the prescribed limit. Read the Act’s wording (within the prescribed period after transfer) with regulation 24(5)’s awareness trigger; regulation 24’s special day definition excludes Saturdays, Sundays and public holidays. Do not import that definition into the separate 90-day section 43B change-notification period.
Section 32 Mapped obligation
A section 28, 29 or 31 report to the Centre (or section 30(1) report to the Minister's official) must follow the prescribed manner; if the Centre later asks for more information or documentation about a report, the institution that made it must supply whatever it has, in the prescribed manner and within the prescribed period.
Regulation 22 Mapped obligation
A report under Part 3 of Chapter 3 of FICA must normally use the Centre’s specified format and electronic portal or other Centre-developed method. A person who lacks the technical capability to report electronically, or is for another reason indefinitely unable to do so, must use the Centre’s specified form and submit it through the Centre’s current contact particulars.
GN R.7577, amending Schedule, clause 4; regulation 22(1) and (3) Mapped obligation
If a bank is required to submit a report under FICA section 28, 28A, 29 or 31, it must use the FIC format and submit electronically through the FIC portal or another FIC-developed electronic method made available to the required reporter, subject to regulation 22(2). Section 30 reports separately use the manner and format SARS specifies; that does not create a bank reporting trigger.
GN R.7577, amending Schedule, clause 5; regulations 23F–23G Context
A person conveying cash or bearer negotiable instruments into or out of South Africa at R100,000 or more (or foreign-currency equivalent) is within the reporting threshold. Regulation 23G specifies report-maker, represented-person, travel, amount, origin, source and purpose particulars.
Regulation 22A Mapped obligation
A section 28A terrorist-property report must identify the reporter/contact, describe the property, identify the person controlling it on behalf of the reporting institution, list known persons/entities with an interest in it, give the grounds, indicate action taken and include the indicator. The additional director particulars concern at least one director of a company with an interest in the property (and that director’s role), not automatically a director of the reporting bank. Preserve the available-information qualifications and distinguish the property controller from an owner or beneficiary. The retained regulation cross-refers to section 28A(1)(a) and (b), although the Act text supplied here omits (b) and has operative limb (c); this source cross-reference discrepancy remains for legal/source reconciliation and does not justify excluding UN-designated property.
Regulation 22B Context
The cash amount above which a transaction must be reported to the Centre under FICA section 28 is R49,999.99, so a cash payment or receipt of R50,000 or more is reportable.
Regulation 22C Mapped obligation
A cash threshold report under FICA section 28 must identify the reporting institution and a contact person, describe the transaction (location, date, value, how conducted, currency), give particulars of each party to the transaction (with extra detail for companies and their directors), give particulars of any account involved and its signatories, and include an indicator code for why the report was made.
Regulation 23 Mapped obligation
A suspicious or unusual transaction report must include the prescribed reporter, party and transaction particulars, a full description and why the transaction is suspicious or unusual, action taken, and the required indicator. Apply the regulation’s separate full-particulars and readily-available-information qualifications; this list is not a complete reporting schema or a universal customer-onboarding checklist.
Regulation 23A Mapped obligation
A suspicious or unusual activity report must include the prescribed reporter/contact, activity, account, client and representative particulars under the applicable full-particulars and readily-available-information branches; describe the activity and why it is suspicious or unusual; state action taken; provide the indicator; and give earlier related report reference numbers. These report-field qualifications are not universal onboarding data requirements.
Regulation 23B Mapped obligation
A terrorist-financing transaction report must include the prescribed reporter and party particulars, a full transaction description including why it is suspicious or unusual under section 29, action taken, and the indicator. Preserve each field’s full-particulars or readily-available-information qualification; this is a report schema, not a universal onboarding checklist.
Regulation 23C Mapped obligation
A terrorist-financing activity report must include the prescribed reporter, activity, account, client and representative particulars under the applicable full-particulars and readily-available-information branches; describe the activity and why it is suspicious or unusual under section 29; state action taken; provide the indicator; and give reference numbers of earlier related reports. These report-field qualifications are not universal onboarding data requirements.
Regulation 23D Context
The amount above which an international electronic funds transfer must be reported to the Centre under FICA section 31 is R19,999.99, so a transfer of R20,000 or more is reportable.
Regulation 23E Mapped obligation
An international funds transfer report under FICA section 31 must identify the reporting institution and a contact person, give particulars of the transfer and of the parties on each side, give particulars of any account involved, and carry an indicator code for the circumstances that gave rise to the report.
Regulation 24 Mapped obligation
Every listed report must be sent as soon as possible; its stated period is an outer limit, not a target or permission to wait for internal approval. For section 28A, send within 5 regulation-defined days after a specified natural person establishes that the institution has the property; a later-date request must reach the Centre before expiry, and late filing requires Centre approval. For section 29, send within 15 defined days after the specified person becomes aware of the relevant reportable fact; the Centre may approve later filing. For section 28 cash reports, send within 3 defined days after the specified person becomes aware that the cash transaction exceeded the prescribed limit. For section 31 international funds transfer reports, send within 3 defined days after the specified person becomes aware of a fact that the transfer exceeded its prescribed limit, read with section 31’s after-transfer wording. “Days” here excludes Saturdays, Sundays and public holidays. Centre approval is only available for sections 28A and 29; it is not automatic, and only section 28A has the express before-expiry request rule. Do not extend this day definition to section 43B’s 90-day change-notification duty.
Regulation 24A Mapped obligation
If the Centre asks for additional information under FICA section 32, the institution (or other person asked) must supply it within the number of days the Centre specifies, in the Centre's required format, normally through the online reporting portal.
Directive 3A, paragraph 2.2.1 Mapped obligation
A covered reporter that becomes aware of a reporting failure must notify the named FIC executive in writing immediately. The clause states no fixed number of hours or days.
Directive 3A, paragraph 2.2.2 Mapped obligation
The person or institution must ask the FIC for an engagement about relevant mitigation factors. The text requires a request, not that a meeting necessarily occur.
Directive 3A, paragraph 2.3 Context
An agreed mitigation arrangement does not excuse the original failure, suspend continuing reporting duties or bar supervisory enforcement.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
Action: Keep the CDD record, including copies or references to the evidence used, and enough transaction information to reconstruct transactions. The minimum five-year clocks differ: relationship-establishment records run from termination, transaction records from conclusion, and records of a transaction or activity underlying a section 29 report from submission. Outsourcing storage does not remove the bank’s duties or access obligations. If required CDD cannot be maintained, apply the refusal or termination rule and consider reporting.
Next: Records owner: confirm the applicable retention trigger and period before disposal.
Explore the provisionsSection 22 Mapped obligation
When sections 21 to 21H require information about a client or prospective client, the institution must keep a record of that information. The identity-verification record must include either copies of or references to the relevant information provided to or obtained by the institution; this is not a mandatory upload list. For a business relationship, also record its nature, intended purpose and expected source of funds.
Section 22A Mapped obligation
Keep every single-transaction and business-relationship transaction record sufficiently detailed for ready reconstruction. Include amount and currency, date, parties, transaction nature and business correspondence. Where the institution provides account facilities, include identifying particulars of every related account and the related account files.
Section 23 Mapped obligation
Keep business-relationship establishment records for at least five years after the relationship is terminated; records of a concluded transaction for at least five years after that transaction is concluded; and records relating to a transaction or activity that gave rise to a section 29 report for at least five years after the report is submitted to the Centre. These are separate clocks: the relationship clock does not run from onboarding, and the report-related clock is limited to the underlying reported transaction or activity.
Section 24 Mapped obligation
A third party may perform the section 22/22A recordkeeping duties, but the institution must have free and easy access and the records must be readily available to the Centre and relevant supervisory body. The institution remains liable for the third party’s failure, must forthwith provide the prescribed third-party particulars, and may keep records electronically only if they can be reproduced legibly. Regulation 20 supplies additional notification particulars.
Section 21E Mapped obligation
If an accountable institution cannot identify/verify a client, obtain the section 21A business-relationship information, or carry out ongoing due diligence, it must not start or continue the relationship or transaction (or must end an existing relationship, under its Risk Management and Compliance Programme), and must consider making a section 29 report.
Regulation 20 Mapped obligation
When an accountable institution uses a third party to keep FICA records, it must notify the Centre and its supervisory body without delay of the third party’s identity and trading name; the person controlling access; both where the records are located and where the third party’s control over them is located; and the institution’s liaison person/contact particulars.
Open a source for its retained edition, rights and review state. Source versions do not by themselves confirm currentness.
This step is an implementation explanation backed by the reviewed provisions shown, not an additional statutory obligation or a bank licensing checklist.
Conditional duties and exceptions remain attached to their exact provisions. The journey is for an individual opening a retail account for themselves.
RegCanary implementation explanation, not a bank licensing checklist and not a universal document package.
FIC Directive 3A of 2025 · Directive 3A, paragraph 2.2.1
A covered reporter that becomes aware of a reporting failure must notify the named FIC executive in writing immediately. The clause states no fixed number of hours or days.
A covered reporter that becomes aware of a reporting failure must notify the named FIC executive in writing immediately. The clause states no fixed number of hours or days.
Report
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 3A of 2025 · Directive 3A, paragraph 2.2.2
The person or institution must ask the FIC for an engagement about relevant mitigation factors. The text requires a request, not that a meeting necessarily occur.
The person or institution must ask the FIC for an engagement about relevant mitigation factors. The text requires a request, not that a meeting necessarily occur.
Report
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 3A of 2025 · Directive 3A, paragraph 2.3
An agreed mitigation arrangement does not excuse the original failure, suspend continuing reporting duties or bar supervisory enforcement.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 8 of 2023 · Directive 8, paragraph 2.3
The bank must screen prospective and current employees for competence and integrity periodically, using a risk-based approach. This is not customer screening.
Periodically screen prospective and current employees for competence and integrity in a risk-based manner.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 8 of 2023 · Directive 8, paragraph 2.4
On a FIC Director notice under FICA section 26A(3), the bank must scrutinise prospective/current employee information to determine whether an employee is named. This is not general customer screening.
On a Director’s FICA section 26A(3) notice, scrutinise prospective/current employee information to determine whether an employee is named.
Verify Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 8 of 2023 · Directive 8, paragraph 2.5
The bank must set out and record how it will conduct paragraph 2.3 screening and paragraph 2.4 employee-information scrutiny. This concerns process design, not customer documents.
Provide for and record the manner of employee screening and scrutiny under paragraphs 2.3 and 2.4.
Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 8 of 2023 · Directive 8, paragraph 2.6
The bank must keep outcome records for competence/integrity screening and paragraph 2.4 employee-information scrutiny.
Keep outcome records for employee competence/integrity screening and employee-information scrutiny.
Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Directive 8 of 2023 · Directive 8, paragraph 2.7
On request, the bank must make records about employee-screening methods and outcomes available to the FIC or relevant supervisory body.
On request, make employee-screening method and outcome records available to the FIC or relevant supervisory body.
Report
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 83
The note distinguishes collecting identity information during onboarding or a transaction from verifying it against reliable and independent third-party records.
Obtain customer identity information and corroborate it against reliable, independent third-party records.
Collect information Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 85
For a natural person, the note expects identity processes always to use full names and date of birth and, in most cases, a government-issued unique number. It does not prescribe a universal document pack.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 88
For basic-identity verification, the guidance says accountable institutions should use government-issued or controlled sources as far as practicable. Only exceptionally, and only when the institution is confident it can adequately manage ML, TF and PF risks, should it use a non-original source.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 90
An accountable institution remains responsible when using electronic services and receives no automatic indemnity. It should conduct due diligence in choosing the electronic provider and solution.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 120
The note places identity verification within the relationship or transaction process and says it must be completed before the institution executes the transaction or gives effect to it.
Complete identity verification before executing a relationship transaction or giving effect to a single transaction.
Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 121
The note allows preparatory onboarding steps before verification is complete but warns against creating unmitigated exposure, such as receiving or releasing funds prematurely.
Allow preparatory onboarding only with controls against unmitigated risk, including premature receipt or release of customer funds.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 122
The note says the institution’s programme should define verification timing and how risks are controlled when verification is not finished at the start of a relationship or transaction.
Set verification timing and controls for risk when checks are incomplete at relationship or transaction entry in the RMCP.
Assess Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 125
The note says the programme should describe the information approach and identifies occupation or business, expected fund origins and anticipated account activity as potentially relevant.
Record in the RMCP the approach to relationship information, including relevant occupation/business, expected fund origins and anticipated activity.
Collect information Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 126
Information obtained under section 21A must be sufficient for understanding the client and relationship and may be accepted at face value for that purpose; the guidance says its veracity need not be verified. The statement covers section 21A information, including expected source-of-funds information described in paragraphs 123 and 125. It does not exempt identity verification or other risk-based checks, or establish a general source-of-funds exemption.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 128
Ongoing measures identify activity inconsistent with knowledge of the client or relationship and assess possible grounds for an ML, TF or PF suspicion report. Give particular attention to complex or unusually large transactions and unusual patterns without apparent business or lawful purpose. If the institution suspects suspicious or unusual activity and believes continuing CDD would disclose to the client that a section 29 report will be made, it may discontinue that CDD and consider a report; neither step is automatic under this paragraph.
Scrutinise inconsistent activity, complex or unusually large transactions and unusual patterns without apparent business or lawful purpose, assessing possible grounds for suspicion reporting. Only where suspicious or unusual activity is suspected and continuing CDD is believed likely to disclose a section 29 report may the institution discontinue CDD and consider reporting.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 130
The note says the programme should cover review and recordkeeping for complex or unusually large activity and patterns lacking an apparent business or lawful purpose.
Define examination and written-findings processes for complex, unusually large or unexplained activity in the RMCP.
Assess Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 132
Where the later doubts or suspicion described in paragraph 131 arise, the institution repeats the relevant sections 21 and 21B steps in accordance with its RMCP and only as far as necessary to confirm information that must be verified. It is not an unconditional repeat-onboarding check.
For the later doubts or suspicion described in paragraph 131, repeat relevant sections 21 and 21B steps under the RMCP only to the extent necessary to confirm information that requires verification.
Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 135
The note calls for a case-specific assessment of whether a CDD failure can be rectified before ending a relationship; refusal after warning and a reasonable response opportunity points toward discontinuance.
Assess CDD failure case by case; allow rectification only where reasonable and discontinue after refusal following warning and a response opportunity.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 137
The RMCP must set out the information-gathering sequence, when verification of a prospective client’s identity must be completed, and when the institution concludes it cannot conduct appropriate CDD if information is not forthcoming in entering a business relationship or concluding a single transaction. Separately, it must provide how to terminate an existing relationship when CDD cannot be completed.
Set RMCP procedures for information gathering, verification completion and inability to complete CDD in entering a business relationship or concluding a single transaction; separately provide termination steps for an existing relationship when CDD cannot be completed.
Assess Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 139
The note does not treat a domestic politically exposed person or prominent influential person as automatically high risk; it calls for an individual assessment and says elevated cases receive the foreign-person measures.
Assess domestic politically exposed and prominent influential relationships individually; apply the foreign-person measures where higher risk is found.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 140
Foreign PEP relationships are always high-risk: obtain senior-management approval before establishment, take reasonable measures to establish source of wealth and source of funds, and conduct enhanced ongoing monitoring. The source-of-wealth/funds information need not be verified, but must be included in the client profile used for monitoring. Section 21H extends sections 21F/21G to immediate family and known close associates of foreign or domestic PEPs/PIPs as applicable. Domestic PEP/PIP relationships are not inherently high-risk; assess each on its merits under paragraph 139. This does not establish PIP commencement or a threshold.
For foreign PEP relationships, obtain senior-management approval before establishment, take reasonable measures to establish source of wealth and source of funds without treating this as a verification requirement, include that information in the client profile, and conduct enhanced ongoing monitoring. Apply the section 21H family/associate extension as applicable; do not treat domestic PEP/PIP relationships as inherently high-risk.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 153
Section 21H applies the section 21F/21G measures, as applicable, to immediate family members and known close associates of foreign or domestic PEPs/PIPs. The applicable category’s risk treatment carries through: domestic PEP/PIP relationships are not inherently high-risk and are assessed individually under paragraph 139. This does not establish PIP commencement or any threshold.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 198
Accountable institutions must be able to determine whether an existing or prospective client is a sanctioned person or entity. Institutions likely to encounter them should be able to screen existing and prospective clients at take-on and later when the UNSC adopts new or expands existing TFS measures. Likelihood informs the screening discussion and resources, not a waiver of capability; paragraph 200 rejects low-risk assessment or commercial-provider reliance as a defence.
Maintain the ability to determine whether existing and prospective clients are sanctioned. Institutions likely to encounter sanctioned persons/entities should screen at take-on and when the UNSC adopts new or expands TFS measures; likelihood sizes effort but does not waive capability.
Assess Verify
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 199
The note links screening resources to the likely exposure of the customer base and target market, highlighting cross-border relationships as a risk factor.
Assess likely designated-party exposure in the customer base and target market and size screening effort to that risk.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FICA 38 of 2001 · Section 1
This section defines terms used throughout FICA. A "single transaction" is outside a business relationship and normally must meet the prescribed minimum value, but that value limitation expressly does not apply for section 20A. The section also defines accountable institution, client, business relationship, beneficial owner, money laundering, proceeds of unlawful activities, the Centre and other terms.
Not recorded
"accountable institution" means a person referred to in Schedule 1
1. Definitions (1) In this Act, unless the context indicates otherwise– "accountable institution" means a person referred to in Schedule 1; “administrative sanction” means an administrative sanction contemplated in section 45C; “appeal board” means the appeal board established by section 45E; "authorised officer" means any official of– (a) an investigating authority authorised by the head of that investigating authority to act under this Act; (b) the National Prosecuting Authority authorised by the National Director of Public Prosecutions to act under this Act; (c) an intelligence service authorised by the Director-General of that service to act under this Act; (d) the South African Revenue Service authorised by the Commissioner for that Service to act under this Act; (e) the Independent Police Investigative Directorate authorised by the Executive Director of that Directorate to act under this Act; (f) the Intelligence Division of the National Defence Force authorised by the Inspector- General of the National Defence Force to act under this Act; (g) a Special Investigating Unit authorised by the head of the Special Investigating Unit to act under this Act; (h) the office of the Public Protector authorised by the Public Protector to act under this Act; (i) an investigative division in a national department authorised by the head of that national department to act under this Act; or (j) an investigative division of the Auditor-General authorised by the Auditor-General to act under this Act; “bearer negotiable instrument”, means any instrument that may on demand by the bearer thereof be converted to the currency of the Republic or that of another country, and includes, amongst others, cheques, promissory notes or money orders; “beneficial owner”– (a) means a natural person who directly or indirectly– (i) ultimately owns or exercises effective control of– (aa) a client of an accountable institution; or (bb) a legal person, partnership or trust that owns or exercises effective control of, as the case may be, a client of an accountable institution; or (ii) exercises control of a client of an accountable institution on whose behalf a transaction is being conducted; and (b) includes– (i) in respect of legal persons, each natural person contemplated in section 21B(2)(a); (ii) in respect of a partnership, each natural person contemplated in section 21B(3)(b); and (iii) in respect of a trust, each natural person contemplated in section 21B(4)(c),(d) and (e); "business relationship" means an arrangement between a client and an accountable institution for the purpose of concluding transactions on a regular basis; "cash" means– (a) coin and paper money of the Republic or of another country that is designated as legal tender and that circulates as, and is customarily used and accepted as, a medium of exchange in the country of issue; (b) travellers' cheques; "Centre" means the Financial Intelligence Centre established by section 2; “client”, in relation to an accountable institution, means a person who has entered into a business relationship or a single transaction with an accountable institution; "Director" means the Director of the Centre appointed in terms of section 6; “domestic politically exposed person” means a person referred to in Schedule 3A; “entity” has a corresponding meaning with the definition in section 1 of the Protection of Constitutional Democracy against Terrorist and Related Activities Act, 2004; “foreign politically exposed person ” means a person referred to in Schedule 3B; “Independent Police Investigative Directorate” means the Independent Police Investigative Directorate established by section 3 of the Independent Police Investigative Directorate Act, 2011 (Act No. 1 of 2011); “inspector” means a person appointed in terms of section 45A; “Intelligence Division of the National Defence Force” means the Intelligence Division of the National Defence Force referred to in section 33 of the Defence Act, 2002 (Act No. 42 of 2002); "intelligence service" means the State Security Agency referred to in section 3 of the Intelligence Services Act, 2002 (Act No. 65 of 2002); "investigating authority" means an authority that in terms of national legislation may investigate unlawful activities; “investigative division in a national department” means an investigative component in a national department listed in Schedule 1 to the Public Service Act, 1994 (Act No. 103 of 1994), having a function by law to investigate unlawful activity within that national department or in another organ of state; ‘‘investigative division of the Auditor-General” means the investigative component of the Auditor-General having the function by law to investigate material irregularities in accordance with the Public Audit Act, 2004 (Act No. 25 of 2004); “legal person” means any person, other than a natural person, that establishes a business relationship or enters into a single transaction, with an accountable institution, and includes a person incorporated as a company, close corporation, foreign company or any other form of corporate arrangement or association, but excludes a trust, partnership or sole proprietor; "Minister" means the Minister of Finance; "money laundering" or "money laundering activity" means an activity which has or is likely to have the effect of concealing or disguising the nature, source, location, disposition or movement of the proceeds of unlawful activities or any interest which anyone has in such proceeds, and includes any activity which constitutes an offence in terms of section 64 of this Act or section 4, 5 or 6 of the Prevention Act;1 "National Commissioner" means the National Commissioner of the South African Police Service referred to in section 207 of the Constitution of the Republic of South Africa, 1996 (Act No. 108 of 1996); "National Director of Public Prosecutions" means the National Director of Public Prosecutions referred to in section 179 of the Constitution of the Republic of South Africa, 1996 (Act No. 108 of 1996); “National Prosecuting Authority” means the National Prosecuting Authority referred to in section Sections 4, 5 and 6 of the Prevention Act read as follows: "Money laundering 4. Any person who knows or ought reasonably to have known that property is or forms part of the proceeds of unlawful activities and - (a) enters into any agreement or engages in any arrangement or transaction with anyone in connection with that property, whether such agreement, arrangement or transaction is legally enforceable or not; or (b) performs any other act in connection with such property, whether it is performed independently or in concert with any other person, which has or is likely to have the effect - (i) of concealing or disguising the nature, source, location, disposition or movement of the said property or its ownership or any interest which anyone may have in respect thereof; or (ii) of enabling or assisting any person who has committed or commits an offence, whether in the Republic or elsewhere - (aa) to avoid prosecution; or (bb) to remove or diminish any property acquired directly, or indirectly, as a result of the commission of an offence, shall be guilty of an offence. 5. Assisting another to benefit from proceeds of unlawful activities Any person who knows or ought reasonably to have known that another person has obtained the proceeds of unlawful activities, and who enters into any agreement with anyone or engages in any arrangement or transaction whereby - (a) the retention or the control by or on behalf of the said other person of the proceeds of unlawful activities is facilitated; or (b) the said proceeds of unlawful activities are used to make funds available to the said other person or to acquire property on his or her behalf or to benefit him or her in any other way, shall be guilty of an offence. 6. Acquisition, possession or use of proceeds of unlawful activities Any person who - (a) acquires; (b) uses; or (c) has possession of, property and who knows or ought reasonably to have known that it is or forms part of the proceeds of unlawful activities of another person, shall be guilty of an offence.". 179 of the Constitution of the Republic of South Africa, 1996, and established in terms of section 2 of the National Prosecuting Authority Act, 1998 (Act No. 32 of 1998); “non-compliance” means any act or omission that constitutes a failure to comply with a provision of this Act or any order, determination or directive made in terms of this Act and which does not constitute an offence in terms of this Act, and ‘fails to comply’, ‘failure to comply’, ‘non-compliant’ and ‘not complying’ have a corresponding meaning; “offence relating to the financing of terrorist and related activities” means an offence under section 4 of the Protection of Constitutional Democracy against Terrorist and Related Activities Act, 2004 (Act No. 33 of 2004); "prescribed" means prescribed by the Minister by regulation in terms of section 77; "Prevention Act" means the Prevention of Organised Crime Act, 1998 (Act No. 121 of 1998); "proceeds of unlawful activities" has the meaning attributed to that term in section 1 of the Prevention Act;2 "proliferation financing" or "proliferation financing activity" means an activity which has or is likely to have the effect of providing property, a financial or other service or economic support to a non-State actor, that may be used to finance the manufacture, acquisition, possessing, development, transport, transfer or use of nuclear, chemical or biological weapons and their means of delivery, and includes any activity which constitutes an offence in terms of section 49A; “prominent influential person” means a person referred to in Schedule 3C; "property" has the meaning attributed to that term in section 1 of the Prevention Act;3 “Public Protector” means the Public Protector referred to in Chapter 9 of the Constitution of the Republic of South Africa, 1996; "reporting institution" means a person referred to in Schedule 3; “Risk Management and Compliance Programme” means the programme contemplated in section 42(1); "single transaction" means a transaction– (a) other than a transaction concluded in the course of a business relationship; and (b) where the value of the transaction is not less than the amount prescribed, except in the case of section 20A; "South African Revenue Service" means the South African Revenue Service established by section 2 of the South African Revenue Service Act, 1997 (Act No. 34 of 1997); “Special Investigating Unit” means the Special Investigating Unit established under section 2 of the Special Investigating Units and Special Tribunals Act, 1996 (Act No. 74 of 1996); "supervisory body" means a functionary or institution referred to in Schedule 2; “terrorist and related activities” has the meaning assigned to it in section 1 of the Protection of Constitutional Democracy Against Terrorist and Related Activities Act. 2004 (Act No. 33 of 2004); "this Act" includes any regulation made or exemption given under this Act; “trust” means a trust defined in section 1 of the Trust Property Control Act, 1988 (Act No. 57 of 1988), other than a trust established– (a) by virtue of a testamentary disposition; (b) by virtue of a court order; In terms of section 1 of the Prevention Act, this term means "any property or any service, advantage, benefit or reward which was derived, received or retained, directly or indirectly, in the Republic or elsewhere, at any time before or after the commencement of this Act, in connection with or as a result of any unlawful activity carried on by any person, and includes any property representing property so derived". In terms of section 1 of the Prevention Act, this term means "money or any other movable, immovable, corporeal or incorporeal thing, and includes any rights, privileges, claims and securities and any interest therein and all proceeds thereof". (c) in respect of persons under curatorship; or (d) by the trustees of a retirement fund in respect of benefits payable to the beneficiaries of that retirement fund, and includes a similar arrangement established outside the Republic; "unlawful activity" has the meaning attributed to that term in section 1 of the Prevention Act.4 (2) For the purposes of this Act a person has knowledge of a fact if– (a) the person has actual knowledge of that fact; or (b) the court is satisfied that– (i) the person believes that there is a reasonable possibility of the existence of that fact; and (ii) the person fails to obtain information to confirm or refute the existence of that fact. (3) For the purposes of this Act a person ought reasonably to have known or suspected a fact if the conclusions that he or she ought to have reached, are those which would have been reached by a reasonably diligent and vigilant person having both– (a) the general knowledge, skill, training and experience that may reasonably be expected of a person in his or her position; and (b) the general knowledge, skill, training and experience that he or she in fact has.
FICA 38 of 2001 · Section 20A
An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name. The prescribed R5,000 minimum for the defined term "single transaction" does not limit this prohibition, because the definition expressly excepts section 20A.
Do not establish a business relationship or conclude any single transaction, regardless of value, with an anonymous client or a client with an apparent false or fictitious name.
Prohibited action Verify
An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name.
Assess applicability in workspace
20A. Anonymous clients and clients acting under false or fictitious names An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name.
FICA 38 of 2001 · Section 21
When entering into a single transaction or establishing a business relationship, an accountable institution must, under its Risk Management and Compliance Programme, establish and verify the identity of the client; if the client acts for another person, that person’s identity and the client’s authority; and if another person acts for the client, that person’s identity and authority. For a business relationship that existed before the Act took effect, it may not conclude a transaction until it has taken the prescribed steps to identify and verify those persons and to trace all accounts involved in that relationship.
Identify and verify the client (and any person acting for, or on behalf of, the client) before or during onboarding, in line with the institution's Risk Management and Compliance Programme.
Verify Collect information
Data items: client identity, authority to act on behalf of another person
the institution must, in the course of concluding that single transaction or establishing that business relationship and in accordance with its Risk Management and Compliance Programme– (a) establish and verify the identity of the client;
Assess applicability in workspace
21. Identification of clients and other persons (1) When an accountable institution engages with a prospective client to enter into a single transaction or to establish a business relationship, the institution must, in the course of concluding that single transaction or establishing that business relationship and in accordance with its Risk Management and Compliance Programme– (a) establish and verify the identity of the client; (b) if the client is acting on behalf of another person, establish and verify– (i) the identity of that other person; and (ii) the client’s authority to establish the business relationship or to conclude the single transaction on behalf of that other person; and (c) if another person is acting on behalf of the client, establish and verify– (i) the identity of that other person; and (ii) that other person’s authority to act on behalf of the client. (2) If an accountable institution had established a business relationship with a client before this Act took effect, the accountable institution may not conclude a transaction in the course of that business relationship, unless the accountable institution has taken the prescribed steps– (a) to establish and verify the identity of the client; (b) if another person acted on behalf of the client in establishing the business relationship, to establish and verify– (i) the identity of that other person; and (ii) that other person's authority to act on behalf of the client; (c) if the client acted on behalf of another person in establishing the business relationship, to establish and verify– (i) the identity of that other person; and (ii) the client's authority to act on behalf of that other person; and (d) to trace all accounts at that accountable institution that are involved in transactions concluded in the course of that business relationship.
FICA 38 of 2001 · Section 21A
When establishing a business relationship, an accountable institution must also obtain information about the nature and intended purpose of the relationship and the source of the funds the client expects to use, so it can later judge whether transactions are consistent with what it knows about the client.
Obtain information on the nature, purpose and funding source of a new business relationship, in addition to identifying the client under section 21.
Collect information Assess
Data items: nature of business relationship, intended purpose, source of funds
the institution must, in addition to the steps required under section 21 and in accordance with its Risk Management and Compliance Programme, obtain information to reasonably enable the accountable institution to determine whether future transactions that will be performed in the course of the business relationship concerned are consistent with the institution’s knowledge of that prospective client
Assess applicability in workspace
21A. Understanding and obtaining information on business relationship When an accountable institution engages with a prospective client to establish a business relationship as contemplated in section 21, the institution must, in addition to the steps required under section 21 and in accordance with its Risk Management and Compliance Programme, obtain information to reasonably enable the accountable institution to determine whether future transactions that will be performed in the course of the business relationship concerned are consistent with the institution’s knowledge of that prospective client, including information describing– (a) the nature of the business relationship concerned; (b) the intended purpose of the business relationship concerned; and (c) the source of the funds which that prospective client expects to use in concluding transactions in the course of the business relationship concerned.
FICA 38 of 2001 · Section 21B
If the client is a legal person, or a natural person acting on behalf of a partnership, trust or similar arrangement between natural persons, establish the applicable business and ownership/control structure under the RMCP. For a legal person, first identify each natural person who, independently or together with another person, has a controlling ownership interest. If there is doubt that such a person is the beneficial owner, or no natural person has that interest, identify each natural person exercising control through other means. If nobody is identified through that other-means branch, identify each natural person exercising control over management, including the relevant directors and managers. Take reasonable steps to verify the beneficial owner. Apply the separate partnership and trust rules where those branches apply. This does not require a personally acting individual retail client to supply corporate ownership documents and sets no universal ownership-percentage threshold.
For a legal-person client or an individual acting for a partnership, trust or similar arrangement, establish the applicable business and ownership/control structure and identify the relevant beneficial owners or other persons under the Act’s branch-specific, sequential tests.
Verify Collect information
Data items: nature of business, ownership and control structure where applicable, beneficial-owner identity and reasonable verification steps for a legal person, identity of relevant partnership partners and persons exercising executive control, trust founder, trustee and beneficiary or beneficiary-determination particulars where applicable
an accountable institution must, in addition to the steps required under sections 21 and 21A and in accordance with its Risk Management and Compliance Programme, establish–
Assess applicability in workspace
21B. Additional due diligence measures relating to legal persons, trusts and partnerships (1) If a client contemplated in section 21 is a legal person or a natural person acting on behalf of a partnership, trust or similar arrangement between natural persons, an accountable institution must, in addition to the steps required under sections 21 and 21A and in accordance with its Risk Management and Compliance Programme, establish– (a) the nature of the client’s business; and (b) the ownership and control structure of the client. (2) If a client contemplated in section 21 is a legal person, an accountable institution must, in addition to the steps required under sections 21 and 21A and in accordance with its Risk Management and Compliance Programme– (a) establish the identity of the beneficial owner of the client by– (i) determining the identity of each natural person who, independently or together with another person, has a controlling ownership interest in the legal person; (ii) if in doubt whether a natural person contemplated in subparagraph (i) is the beneficial owner of the legal person or no natural person has a controlling ownership interest in the legal person, determining the identity of each natural person who exercises control of that legal person through other means, including through his or her ownership or control of other legal persons, partnerships or trusts; or (iii) if a natural person is not identified as contemplated in subparagraph (ii), determining the identity of each natural person who exercises control over the management of the legal person, including in his or her capacity as executive officer, non-executive director, independent non-executive director, director or manager; and (b) take reasonable steps to verify the identity of the beneficial owner of the client, so that the accountable institution is satisfied that it knows who the beneficial owner is. (3) If a person, in entering into a single transaction or establishing a business relationship as contemplated in section 21, is acting on behalf of a partnership , an accountable institution must, in addition to the steps required under sections 21 and 21A and in accordance with its Risk Management and Compliance Programme– (a) establish the identifying name of the partnership, if applicable; (b) establish the identity of– (i) every partner, including every member of a partnership en commandite, an anonymous partnership or any similar partnership; (ii) if a partner in the partnership is a legal person or a natural person acting on behalf of a partnership or in pursuance of the provisions of a trust agreement, the beneficial owner of that legal person, partnership or trust; (iii) the natural person who exercises executive control over the partnership; and (iv) each natural person who purports to be authorised to enter into a single transaction or establish a business relationship with the accountable institution on behalf of the partnership; and (c) take reasonable steps to verify– (i) the particulars obtained in paragraph (a); and (ii) the identities of the natural persons referred to in paragraph (b) so that the accountable institution is satisfied that it knows the identities of the natural persons concerned. (4) If a person, in entering into a single transaction or establishing a business relationship as contemplated in section 21, is acting in pursuance of the provisions of a trust agreement, an accountable institution must, in addition to the steps required under sections 21 and 21A and in accordance with its Risk Management and Compliance Programme– (a) establish the identifying name and number of the trust, if applicable; (b) establish the address of the Master of the High Court where the trust is registered, if applicable; (c) in respect of the founders of the trust, establish the identity of– (i) each founder; and (ii) if a founder of the trust is a legal person or a person acting on behalf of a partnership or in pursuance of the provisions of a trust agreement, the beneficial owner of that legal person, partnership or trust; (d) in respect of the trustees of the trust, establish the identity of– (i) each trustee; (iA) if a trustee is a legal person or a person acting on behalf of a partnership, the beneficial owner of that legal person or partnership; and (ii) each natural person who purports to be authorised to enter into a single transaction or establish a business relationship with the accountable institution on behalf of the trust, whether such a person is appointed as a trustee of the trust or not; (e) in respect of the beneficiaries of the trust, establish– (i) the identity of each beneficiary referred to by name in the trust instrument or other founding instrument in terms of which the trust is created; (iA) if a beneficiary referred to by name in the trust instrument is a legal person or a person acting on behalf of a partnership or in pursuance of the provisions of a trust agreement, the beneficial owner of that legal person, partnership or trust; and (ii) if beneficiaries are not referred to by name in the trust instrument or other founding instrument in terms of which the trust is created, the particulars of how the beneficiaries of the trust are determined; (f) take reasonable steps to verify the particulars obtained in paragraphs (a),(b) and (e)(ii); and (g) take reasonable steps to verify the identities of the natural persons referred to in paragraphs (c), (d), (e)(i) and (iA) so that the accountable institution is satisfied that it knows the identities of the natural persons concerned. (5) This section applies in respect of a legal person, partnership or trust or a similar arrangement between natural persons, whether it is incorporated or originated in the Republic or elsewhere.
FICA 38 of 2001 · Section 21C
Throughout a business relationship, an accountable institution must monitor transactions (including the source of funds and any complex, large or unusual-pattern transaction with no apparent lawful purpose) to check they are consistent with what it knows about the client, and keep the client's identification information up to date; if continuing this process would tip the client off to a section 29 report, the institution may stop the due diligence and consider reporting instead.
Monitor transactions and keep client identification information up to date throughout a business relationship.
Assess
Data items: transaction monitoring records, updated client information
An accountable institution must, in accordance with its Risk Management and Compliance Programme, conduct ongoing due diligence in respect of a business relationship
Assess applicability in workspace
21C. Ongoing due diligence (1) An accountable institution must, in accordance with its Risk Management and Compliance Programme, conduct ongoing due diligence in respect of a business relationship, which includes– (a) monitoring of transactions undertaken throughout the course of the relationship, including, where necessary– (i) the source of funds, to ensure that the transactions are consistent with the accountable institution’s knowledge of the client and the client’s business and risk profile; and (ii) the background and purpose of all complex, unusual large transactions, and all unusual patterns of transactions, which have no apparent business or lawful purpose; and (b) keeping information obtained for the purpose of establishing and verifying the identities of clients pursuant to sections 21, 21A and 21B of this Act, up to date. (2) If an accountable institution suspects that a transaction or activity is suspicious or unusual as contemplated in section 29, and the institution reasonably believes that in performing the customer due diligence requirements in terms of this section will disclose to the client that a report will be made in terms of section 29, it may discontinue the customer due diligence process and consider making a report under section 29.
FICA 38 of 2001 · Section 21D
After concluding a single transaction or establishing a business relationship, repeat the section 21/21B steps under the RMCP to the extent necessary to confirm previously obtained information if its veracity or adequacy is in doubt, or if a section 29 suspicious or unusual transaction report is made. Section 21C(2) separately permits the institution to discontinue the ongoing CDD process under that section and consider reporting where it suspects the specified suspicious or unusual transaction or activity and reasonably believes that performing that CDD would disclose that a section 29 report will be made. This is not an automatic exemption from re-verification whenever a tipping-off concern is raised.
After concluding a single transaction or establishing a business relationship, repeat the relevant section 21/21B steps under the RMCP to the necessary extent if veracity or adequacy is doubtful or a section 29 suspicious or unusual transaction report is made. The separate section 21C(2) discretion requires its specified suspicion and reasonable belief that ongoing CDD would disclose the intended report; it is not a blanket re-verification exemption.
Verify
Data items: previously obtained information required to be verified under sections 21 and 21B, including information whose adequacy or veracity is in doubt
the institution must repeat the steps contemplated in sections 21 and 21B
Assess applicability in workspace
21D. Doubts about veracity of previously obtained information and when reporting suspicious and unusual transactions When an accountable institution, subsequent to entering into a single transaction or establishing a business relationship (a) doubts the veracity or adequacy of previously obtained information which the institution is required to verify as contemplated in sections 21 and 21B; or (b) makes a suspicious or unusual transaction report in terms of section 29, the institution must repeat the steps contemplated in sections 21 and 21B in accordance with its Risk Management and Compliance Programme and to the extent that is necessary to confirm the information previously obtained.
FICA 38 of 2001 · Section 21E
If an accountable institution cannot identify/verify a client, obtain the section 21A business-relationship information, or carry out ongoing due diligence, it must not start or continue the relationship or transaction (or must end an existing relationship, under its Risk Management and Compliance Programme), and must consider making a section 29 report.
Do not establish a business relationship, conclude a single transaction or transact within a relationship, and terminate an existing relationship, when identification, section 21A information or ongoing due diligence cannot be completed; consider a section 29 report.
Prohibited action Assess
may not establish a business relationship or conclude a single transaction with a client;
Assess applicability in workspace
21E. Inability to conduct customer due diligence If an accountable institution is unable to– (a) establish and verify the identity of a client or other relevant person in accordance with section 21 or 21B; (b) obtain the information contemplated in section 21A; or (c) conduct ongoing due diligence as contemplated in section 21C, the institution– (i) may not establish a business relationship or conclude a single transaction with a client; (ii) may not conclude a transaction in the course of a business relationship, or perform any act to give effect to a single transaction; or (iii) must terminate, in accordance with its Risk Management and Compliance Programme, an existing business relationship with a client, as the case may be, and consider making a report under section 29 of this Act.
FICA 38 of 2001 · Section 21F
If a prospective client or their beneficial owner is a foreign politically exposed person, the institution must get senior management sign-off before taking them on, find out the source of their wealth and funds, and watch the relationship more closely on an ongoing basis.
Apply enhanced due diligence (senior management approval, source of wealth/funds, enhanced monitoring) to a foreign PEP client or beneficial owner.
Assess Collect information
Data items: source of wealth, source of funds
the institution must– (a) obtain senior management approval for establishing the business relationship;
Assess applicability in workspace
21F. Foreign politically exposed person If an accountable institution determines in accordance with its Risk Management and Compliance Programme that a prospective client with whom it engages to establish a business relationship, or the beneficial owner of that prospective client, is a foreign politically exposed person, the institution must– (a) obtain senior management approval for establishing the business relationship; (b) take reasonable measures to establish the source of wealth and source of funds of the client; and (c) conduct enhanced ongoing monitoring of the business relationship.
FICA 38 of 2001 · Section 21G
If a prospective client or their beneficial owner is a South African (domestic) politically exposed person or a prominent influential person, and the institution assesses the relationship as higher-risk, it must get senior management sign-off, establish the source of wealth and funds, and apply enhanced ongoing monitoring, in the same way as for a foreign PEP.
Apply enhanced due diligence to a higher-risk domestic PEP or prominent influential person client or beneficial owner.
Assess Collect information
Data items: source of wealth, source of funds
the institution must– (a) obtain senior management approval for establishing the business relationship;
Assess applicability in workspace
21G. Domestic politically exposed person and prominent influential person If an accountable institution determines that a prospective client with whom it engages to establish a business relationship, or the beneficial owner of that prospective client, is a domestic politically exposed person or a prominent influential person and that, in accordance with its Risk Management and Compliance Programme, the prospective business relationship entails higher risk, the institution must– (a) obtain senior management approval for establishing the business relationship; (b) take reasonable measures to establish the source of wealth and source of funds of the client; and (c) conduct enhanced ongoing monitoring of the business relationship.
FICA 38 of 2001 · Section 21H
Sections 21F and 21G also apply to a foreign or domestic PEP, or a PIP, through their immediate family members and known close associates. Immediate family includes a current or previous spouse, civil partner or life partner; children and stepchildren and their spouse, civil partner or life partner; parents; and siblings and stepsiblings and their spouse, civil partner or life partner. Apply section 21F to a foreign PEP case; apply section 21G’s higher-risk relationship condition to a domestic PEP or PIP case. Family or associate status alone does not remove that distinction.
Apply the corresponding section 21F or 21G enhanced-due-diligence rule to a PEP’s or PIP’s defined immediate family members and known close associates, retaining the foreign-PEP versus domestic-PEP/PIP higher-risk distinction.
Assess
Data items: nature of family or known-close-associate connection, where relevant to identifying the applicable section 21F or 21G rule
Sections 21F and 21G apply to immediate family members and known close associates of a foreign or domestic politically exposed person or a prominent influential person
Assess applicability in workspace
21H. Family members and known close associates (1) Sections 21F and 21G apply to immediate family members and known close associates of a foreign or domestic politically exposed person or a prominent influential person, as the case may be. (2) For the purposes of subsection (1), an immediate family member includes– (a) the spouse, civil partner or life partner; (b) the previous spouse, civil partner or life partner, if applicable; (c) children and step children and their spouse, civil partner or life partner; (d) parents; and (e) sibling and step sibling and their spouse, civil partner or life partner.
FICA 38 of 2001 · Section 22
When sections 21 to 21H require information about a client or prospective client, the institution must keep a record of that information. The identity-verification record must include either copies of or references to the relevant information provided to or obtained by the institution; this is not a mandatory upload list. For a business relationship, also record its nature, intended purpose and expected source of funds.
Keep the required customer due-diligence information under sections 21-21H, including copies of or references to identity-verification information and the specified business-relationship information.
Retain records
Data items: all customer due-diligence information obtained under sections 21-21H, copies of or references to information provided to or obtained by the institution to verify identity, business-relationship nature, intended purpose, expected source of funds
the institution must keep a record of that information.
Assess applicability in workspace
22. Obligation to keep customer due diligence records (1) When an accountable institution is required to obtain information pertaining to a client or prospective client pursuant to sections 21 to 21H the institution must keep a record of that information. (2) Without limiting subsection (1), the records must– (a) include copies of, or references to, information provided to or obtained by the accountable institution to verify a person’s identity; and (b) in the case of a business relationship, reflect the information obtained by the accountable institution under section 21A concerning– (i) the nature of the business relationship; (ii) the intended purpose of the business relationship; and (iii) the source of the funds which the prospective client is expected to use in concluding transactions in the course of the business relationship.
FICA 38 of 2001 · Section 22A
Keep every single-transaction and business-relationship transaction record sufficiently detailed for ready reconstruction. Include amount and currency, date, parties, transaction nature and business correspondence. Where the institution provides account facilities, include identifying particulars of every related account and the related account files.
Keep records reasonably necessary to reconstruct each transaction, including the related account particulars and account files where account facilities are provided.
Retain records
Data items: amount and currency, date concluded, parties, nature of transaction, business correspondence, identifying particulars of all related accounts and related account files where account facilities are provided
An accountable institution must keep a record of every transaction, whether the transaction is a single transaction or concluded in the course of a business relationship
Assess applicability in workspace
22A. Obligation to keep transaction records (1) An accountable institution must keep a record of every transaction, whether the transaction is a single transaction or concluded in the course of a business relationship which that accountable institution has with the client, that are reasonably necessary to enable that transaction to be readily reconstructed. (2) Without limiting subsection (1), records must reflect the following information: (a) The amount involved and the currency in which it was denominated; (b) the date on which the transaction was concluded; (c) the parties to the transaction; (d) the nature of the transaction; (e) business correspondence; and (f) if an accountable institution provides account facilities to its clients, the identifying particulars of all accounts and the account files at the accountable institution that are related to the transaction.
FICA 38 of 2001 · Section 23
Keep business-relationship establishment records for at least five years after the relationship is terminated; records of a concluded transaction for at least five years after that transaction is concluded; and records relating to a transaction or activity that gave rise to a section 29 report for at least five years after the report is submitted to the Centre. These are separate clocks: the relationship clock does not run from onboarding, and the report-related clock is limited to the underlying reported transaction or activity.
Apply the separate minimum five-year retention periods: relationship-establishment records from termination; concluded-transaction records from conclusion; and records of the transaction or activity underlying a section 29 report from submission of that report to the Centre.
Retain records
Data items: business-relationship establishment records, records of each concluded transaction, records of the transaction or activity that gave rise to a section 29 report
An accountable institution must keep the records which relate to–
Assess applicability in workspace
23. Period for which records must be kept An accountable institution must keep the records which relate to– (a) the establishment of a business relationship referred to in section 22, for at least five years from the date on which the business relationship is terminated; (b) a transaction referred to in section 22A which is concluded, for at least five years from the date on which that transaction is concluded; and (c) a transaction or activity which gave rise to a report contemplated in section 29, for at least five years from the date on which the report was submitted to the Centre.
FICA 38 of 2001 · Section 24
A third party may perform the section 22/22A recordkeeping duties, but the institution must have free and easy access and the records must be readily available to the Centre and relevant supervisory body. The institution remains liable for the third party’s failure, must forthwith provide the prescribed third-party particulars, and may keep records electronically only if they can be reproduced legibly. Regulation 20 supplies additional notification particulars.
Keep outsourced section 22/22A records freely and easily accessible to the institution and readily available to the Centre/supervisor; remain liable, promptly notify the prescribed particulars, and ensure electronic records are legibly reproducible.
Retain records Report
Data items: prescribed third-party particulars, including the regulation 20 record-access controller, liaison contact and record-location/control details
the accountable institution must forthwith provide the Centre and the supervisory body concerned with the prescribed particulars regarding the third party.
Assess applicability in workspace
24. Records may be kept in electronic form and by third parties (1) The duties imposed by sections 22 and 22A on an accountable institution to keep a record of the matters specified in those sections may be performed by a third party on behalf of the accountable institution as long as the accountable institution has free and easy access to the records and the records are readily available to the Centre and the relevant supervisory body for the purposes of performing its functions in terms of this Act. (2) If a third party referred to in subsection (1) fails to properly comply with the requirements of sections 22 and 22A on behalf of the accountable institution concerned, the accountable institution is liable for that failure. (3) If an accountable institution appoints a third party to perform the duties imposed on it by sections 22 and 22A, the accountable institution must forthwith provide the Centre and the supervisory body concerned with the prescribed particulars regarding the third party. (4) Records kept in terms of sections 22 and 22A may be kept in electronic form and must be capable of being reproduced in a legible format.
FICA 38 of 2001 · Section 26B
No person may directly or indirectly acquire, collect, use, possess or own relevant property; make property, a financial or other service, or economic support available; facilitate those activities; deal or transact with related property; or arrange to enable retention/control, conversion, concealment, removal or transfer to a nominee. The prohibition covers use for the benefit of, on behalf of, at the direction of or under the control of a UN Security Council-identified person/entity, including a person/entity acting on its behalf or at its direction. The statutory intention or knowledge/ought-reasonably-to-have-known-or-suspected tests apply as specified in subsections (1)-(3). Do not wait for a local notice before recognising section 26A’s immediate-effect rule; resolve a potential name match separately from identity, designation, affected property and authority to deal.
No person may carry out the specified property, service, support, dealing, transaction or facilitation conduct when the applicable intention or knowledge/constructive knowledge/suspicion test links it directly or indirectly to a UN-identified person/entity or its agent.
Prohibited action
No person may, directly or indirectly, in whole or in part, and by any means or method– (a) acquire, collect, use, possess or own property;
Assess applicability in workspace
26B. Prohibitions relating to persons and entities identified by Security Council of the United Nations (1) No person may, directly or indirectly, in whole or in part, and by any means or method– (a) acquire, collect, use, possess or own property; (b) provide or make available, or invite a person to provide or make available property; (c) provide or make available, or invite a person to provide or make available any financial or other service; (d) provide or make available, or invite a person to provide or make available economic support; or (e) facilitate the acquisition, collection, use or provision of property, or the provision of any financial or other service, or the provision of economic support, intending that the property, financial or other service or economic support, as the case may be, be used, or while the person knows or ought reasonably to have known or suspected that the property, service or support concerned will be used, directly or indirectly, in whole or in part, for the benefit of, or on behalf of, or at the direction of, or under the control of a person or an entity identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1). (2) No person may, directly or indirectly, in whole or in part, and by any means or method deal with, enter into or facilitate any transaction or perform any other act in connection with property which such person knows or ought reasonably to have known or suspected to have been acquired, collected, used, possessed, owned or provided for the benefit of, or on behalf of, or at the direction of, or under the control of a person or an entity– (a) identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1) ; or (b) acting on behalf of or at the direction of a person or entity contemplated in paragraph (a). (3) No person who knows or ought reasonably to have known or suspected that property is property referred to in subsection (1), may enter into, or become concerned in, an arrangement which in any way has or is likely to have the effect of– (a) making it possible for a person or an entity identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1) to retain or control the property; (b) converting the property; (c) concealing or disguising the nature, source, location, disposition or movement of the property, the ownership thereof or any interest anyone may have therein; (d) removing the property from a jurisdiction; or (e) transferring the property to a nominee.
FICA 38 of 2001 · Section 26C
The Minister may, on the Minister’s own initiative or on an affected person’s request, give written permission on appropriate conditions for specified financial services or dealing with section 26B property only in the stated circumstances and consistently with the relevant UN Security Council resolution. This can include basic expenses, qualifying pre-identification judgments/contracts, interest or earnings, and the specified third-party payment. These grounds do not themselves authorise a bank to deal. The Minister may delegate the power to the Director in writing subject to limits and conditions. Delegation alone is not permission for a bank’s dealing.
Not recorded
The Minister may, in writing and on the conditions as he or she considers appropriate
26C. Permitted financial services and dealing with property (1) The Minister may, in writing and on the conditions as he or she considers appropriate and in accordance with a resolution of the Security Council of the United Nations contemplated in section 26A(1), permit a person to conduct financial services or deal with property referred to in section 26B in the circumstances referred to in subsection (2). (2) The Minister may permit the provision of financial services or the dealing with property if it is necessary to– (a) provide for basic expenses, including, at least– (i) foodstuffs; (ii) rent or mortgage; (iii) medicines or medical treatment; (iv) taxes; (v) insurance premiums; (vi) public utility charges; (vii) maintenance orders; (viii) reasonable professional fees, and (ix) reimbursement of expenses associated with the provision of legal services; (b) satisfy a judgment or arbitral award that was made before the date on which the person or entity was identified by the Security Council of the United Nations; (c) make a payment to a third party which is due under a contract, agreement or other obligation made before the date on which the person or entity was identified by the Security Council of the United Nations; (d) accrue interest or other earnings due on accounts holding property affected by a prohibition under section 26B; (e) make a payment due to a person or entity affected by a prohibition under section 26B by virtue of a contract, agreement or other obligation made before the date on which the person or entity was identified by the Security Council of the United Nations: Provided that the payment is not directly or indirectly being received by that person or entity. (3) The Minister may permit the provision of financial services or the dealing with property under subsection (1) on his or her own initiative or at the request of a person affected by a prohibition under section 26B. (4) The Director must, by appropriate means of publication, give notice of the Minister’s permission of the provision of financial services or the dealing with property under subsection (1). (5) (a) The Minister may, in writing, delegate any power conferred in terms of this section, to the Director. (b) A delegation in terms of paragraph (a)– (i) is subject to any limitations or conditions that the Minister may impose; (ii) does not divest the Minister of the responsibility concerning the exercise of the delegated power or the performance of the assigned duty. (c) The Minister may vary or revoke any decision taken by the Director as a result of a delegation in terms of paragraph (a), subject to any rights that may have vested as a consequence of the decision.
FICA 38 of 2001 · Section 28
Report each qualifying cash transaction to the Centre as soon as possible and no later than 3 days after the specified person becomes aware of a fact that the cash transaction exceeded the prescribed limit. Regulation 24 defines days for its reporting periods as all days except Saturdays, Sundays and public holidays. Internal review or approval does not replace the statutory awareness trigger or the prompt-filing duty.
Promptly report qualifying cash transactions; the outer limit is 3 regulation 24 days from the specified person’s awareness of a fact that the prescribed cash limit was exceeded.
Report
Data items: transaction particulars, cash amount
An accountable institution and a reporting institution must, within the prescribed period, report to the Centre the prescribed particulars concerning a transaction concluded with a client
Assess applicability in workspace
28. Cash transactions above prescribed limit An accountable institution and a reporting institution must, within the prescribed period, report to the Centre the prescribed particulars concerning a transaction concluded with a client if in terms of the transaction an amount of cash in excess of the prescribed amount– (a) is paid by the accountable institution or reporting institution to the client, or to a person acting on behalf of the client, or to a person on whose behalf the client is acting; or (b) is received by the accountable institution or reporting institution from the client, or from a person acting on behalf of the client, or from a person on whose behalf the client is acting.
FICA 38 of 2001 · Section 28A
An accountable institution holding or controlling property in the specified terrorism-related or UN-designation categories must report the fact and prescribed particulars as soon as possible, with regulation 24 imposing an outer limit of 5 defined days after a specified natural person establishes that the institution has the property. A request for a later date must reach the Centre before that period expires, and late reporting requires Centre approval; neither internal approval nor a request alone extends the deadline. The Director may require interval reports and reports of changes. On a section 26A(3) notice, scrutinise client information to identify listed clients.
Promptly report specified terrorist-related or UN-designated property and comply with any directed interval/change reports; the 5-day regulation 24 outer limit runs from the specified person establishing that the institution has the property.
Report Assess
Data items: property particulars, client screening results
must within the prescribed period report that fact and the prescribed particulars to the Centre.
Assess applicability in workspace
28A. Property associated with terrorist and related activities and financial sanctions pursuant to Resolutions of United Nations Security Council (1) An accountable institution which has in its possession or under its control property owned or controlled by or on behalf of, or at the direction of– (a) any entity which has committed, or attempted to commit, or facilitated the commission of a specified offence as defined in the Protection of Constitutional Democracy against Terrorist and Related Activities Act, 2004; (b) . . . (c) a person or an entity identified pursuant to a resolution of the Security Council of the United Nations contemplated in section 26A(1), must within the prescribed period report that fact and the prescribed particulars to the Centre. (2) The Director may direct an accountable institution which has made a report under subsection (1) to report– (a) at such intervals as may be determined in the direction, that it is still in possession or control of the property in respect of which the report under subsection (1) had been made; and (b) any change in the circumstances concerning the accountable institution's possession or control of that property. (3) An accountable institution must upon– (a) . . . (b) notice being given by the Director under section 26A(3), scrutinise its information concerning clients with whom the accountable institution has business relationships in order to determine whether any such client is a person or entity mentioned in the proclamation by the President or the notice by the Director.
FICA 38 of 2001 · Section 29
A person carrying on, managing or working for any business must report to the Centre when the statutory knowledge or suspicion grounds arise, including receipt/expected receipt of unlawful proceeds or terrorist-financing property; specified suspicious/unusual, tax-evasion, terrorist-financing or section 26B-related transactions; or use of the business for money laundering or terrorist financing. This includes a transaction about which enquiries are made that would have had a listed consequence if concluded. Report the grounds and prescribed particulars as soon as possible and within the regulation 24 outer limit of 15 defined days after the relevant fact becomes known to the specified person. The Centre may approve later filing, but approval is not automatic. The duty is not limited to a completed transaction, an existing relationship, cash/IFT threshold, or PEP/sanctions match. Do not disclose the report or its contents except within the statutory permitted routes.
Promptly submit the appropriate suspicious/unusual transaction or activity report, or terrorist-financing transaction or activity report, for a triggered statutory ground; include grounds and prescribed particulars, including enquiries about uncompleted transactions, and protect report confidentiality.
Report
Data items: grounds for knowledge or suspicion, transaction particulars
must, within the prescribed period after the knowledge was acquired or the suspicion arose, report to the Centre the grounds for the knowledge or suspicion and the prescribed particulars concerning the transaction or series of transactions.
Assess applicability in workspace
29. Suspicious and unusual transactions (1) A person who carries on a business or is in charge of or manages a business or who is employed by a business and who knows or ought reasonably to have known or suspected that– (a) the business has received or is about to receive the proceeds of unlawful activities or property which is connected to an offence relating to the financing of terrorist and related activities; (b) a transaction or series of transactions to which the business is a party– (i) facilitated or is likely to facilitate the transfer of the proceeds of unlawful activities or property which is connected to an offence relating to the financing of terrorist and related activities; (ii) has no apparent business or lawful purpose; (iii) is conducted for the purpose of avoiding giving rise to a reporting duty under this Act; or (iv) may be relevant to the investigation of an evasion or attempted evasion of a duty to pay any tax, duty or levy imposed by legislation administered by the Commissioner for the South African Revenue Service; (v) relates to an offence relating to the financing of terrorist and related activities; or (vi) relates to the contravention of a prohibition under section 26B; or (c) the business has been used or is about to be used in any way for money laundering purposes or to facilitate the commission of an offence relating to the financing of terrorist and related activities, must, within the prescribed period after the knowledge was acquired or the suspicion arose, report to the Centre the grounds for the knowledge or suspicion and the prescribed particulars concerning the transaction or series of transactions. (2) A person who carries on a business or is in charge of or manages a business or who is employed by a business and who knows or suspects that a transaction or a series of transactions about which enquiries are made, may, if that transaction or those transactions had been concluded, have caused any of the consequences referred to in subsection (1)(a), (b) or (c), must, within the prescribed period after the knowledge was acquired or the suspicion arose, report to the Centre the grounds for the knowledge or suspicion and the prescribed particulars concerning the transaction or series of transactions. (3) No person who made or must make a report in terms of this section may, subject to subsection 45B(2A), disclose that fact or any information regarding the contents of any such report to any other person, including the person in respect of whom the report is or must be made, otherwise than– (a) within the scope of the powers and duties of that person in terms of any legislation; (b) for the purpose of carrying out the provisions of this Act; (c) for the purpose of legal proceedings, including any proceedings before a judge in chambers; or (d) in terms of an order of court. (4) No person who knows or suspects that a report has been or is to be made in terms of this section may disclose that knowledge or suspicion or any information regarding the contents or suspected contents of any such report to any other person, including the person in respect of whom the report is or is to be made, otherwise than– (a) within the scope of that person's powers and duties in terms of any legislation; (b) for the purpose of carrying out the provisions of this Act; (c) for the purpose of legal proceedings, including any proceedings before a judge in chambers; or (d) in terms of an order of court.
FICA 38 of 2001 · Section 31
An accountable institution must report a qualifying cross-border electronic funds transfer as soon as possible and no later than 3 days under regulation 24 after the specified person becomes aware of a fact that the transfer exceeded the prescribed limit. Read the Act’s wording (within the prescribed period after transfer) with regulation 24(5)’s awareness trigger; regulation 24’s special day definition excludes Saturdays, Sundays and public holidays. Do not import that definition into the separate 90-day section 43B change-notification period.
Promptly report qualifying international funds transfers; regulation 24(5) sets a 3-day outer limit from the specified person’s awareness of a fact that the prescribed limit was exceeded, read with section 31’s after-transfer wording.
Report
Data items: transfer particulars
it must, within the prescribed period after the money was transferred, report the transfer, together with the prescribed particulars concerning the transfer, to the Centre.
Assess applicability in workspace
31. Electronic transfers of money to or from Republic If an accountable institution through electronic transfer sends money in excess of a prescribed amount out of the Republic or receives money in excess of a prescribed amount from outside the Republic on behalf, or on the instruction, of another person, it must, within the prescribed period after the money was transferred, report the transfer, together with the prescribed particulars concerning the transfer, to the Centre.
FICA 38 of 2001 · Section 32
A section 28, 29 or 31 report to the Centre (or section 30(1) report to the Minister's official) must follow the prescribed manner; if the Centre later asks for more information or documentation about a report, the institution that made it must supply whatever it has, in the prescribed manner and within the prescribed period.
Make reports in the prescribed manner and furnish any additional information the Centre reasonably requests about a report already made.
Report
Data items: additional transactional information, supporting documentation
that institution or person must furnish the Centre in the prescribed manner and within the prescribed period with such additional information
Assess applicability in workspace
32. Reporting procedures and furnishing of additional information (1) A report in terms of section 28, 29 or 31 to the Centre and a report in terms of section 30(1) to a person authorised by the Minister must be made in the prescribed manner. (2) The Centre may request an accountable institution, a reporting institution or any other person that has made a report in terms of section 28, 29 or 31 to furnish the Centre with such additional information, including prescribed information relating to transactional activity and supporting documentation, concerning the report and the grounds for the report as the Centre may reasonably require for the performance by it of its functions. (3) When an institution or a person referred to in subsection (2) receives a request under that subsection, that institution or person must furnish the Centre in the prescribed manner and within the prescribed period with such additional information concerning the report and the grounds for the report as that institution or person may have available.
FICA 38 of 2001 · Section 42
An accountable institution must develop, document, maintain and implement a programme for managing money laundering, terrorist financing and proliferation financing risk and compliance. The programme must let it identify, assess, monitor, mitigate and manage the risk of its products and services, and must set out how it identifies clients, applies section 20A, verifies identity, assesses consistency of transactions, applies additional measures for legal persons, trusts and partnerships, conducts ongoing due diligence, examines complex or unusual transactions and keeps written findings, re-confirms doubtful information, handles suspicious transactions, terminates relationships, identifies politically exposed and prominent influential persons, applies enhanced and simplified due diligence, keeps records, decides and makes reports, manages foreign branches and subsidiaries and runs group-wide programmes. It must state which paragraphs do not apply and why, be approved by the board or highest authority, be reviewed regularly, be available to employees involved in relevant transactions, and be given to the Centre or its supervisory body on request.
Develop, document, board-approve, implement, review and make available a Risk Management and Compliance Programme covering the full range of the institution's AML/CTF/CPF duties.
Assess
Data items: Risk Management and Compliance Programme documentation
An accountable institution must develop, document, maintain and implement a programme for anti-money laundering, counter-terrorist financing and proliferation financing risk management and compliance.
Assess applicability in workspace
42. Risk Management and Compliance Programme (1) An accountable institution must develop, document, maintain and implement a programme for anti-money laundering, counter-terrorist financing and proliferation financing risk management and compliance. (2) A Risk Management and Compliance Programme must– (a) enable the accountable institution to– (i) identify; (ii) assess; (iii) monitor; (iv) mitigate; and (v) manage, the risk that the provision by the accountable institution of new and existing products or services may involve or facilitate money laundering activities, the financing of terrorist and related activities or proliferation financing activities; (b) provide for the manner in which the institution determines if a person is– (i) a prospective client in the process of establishing a business relationship or entering into a single transaction with the institution; or (ii) a client who has established a business relationship or entered into a single transaction; (c) provide for the manner in which the institution complies with section 20A; (d) provide for the manner in which and the processes by which the establishment and verification of the identity of persons whom the accountable institution must identify in terms of Part 1 of this Chapter is performed in the institution; (e) provide for the manner in which the institution determines whether future transactions that will be performed in the course of the business relationship are consistent with the institution’s knowledge of a prospective client; (f) provide for the manner in which and the processes by which the institution conducts additional due diligence measures in respect of legal persons, trust and partnerships; (g) provide for the manner in which and the processes by which ongoing due diligence and account monitoring in respect of business relationships is conducted by the institution; (h) provide for the manner in which the examining of– (i) complex or unusually large transactions; and (ii) unusual patterns of transactions which have no apparent business or lawful purpose, and keeping of written findings relating thereto, is done by the institution; (i) provide for the manner in which and the processes by which the institution will confirm information relating to a client when the institution has doubts about the veracity of previously obtained information and when reporting suspicious and unusual transactions in accordance with section 21D; (j) provide for the manner in which and the processes by which the institution will perform the customer due diligence requirements in accordance with sections 21, 21A, 21B and 21C when, during the course of a business relationship, the institution suspects that a transaction or activity is suspicious or unusual as contemplated in section 29; (k) provide for the manner in which the accountable institution will terminate an existing business relationship as contemplated in section 21E; (l) provide for the manner in which and the processes by which the accountable institution determines whether a prospective client or an existing client is a foreign or a domestic politically exposed person or a prominent influential person; (m) provide for the manner in which and the processes by which the accountable institution conducts enhanced due diligence for higher-risk single transactions and business relationships and when simplified customer due diligence might be permitted in the institution; (n) provide for the manner in which and place at which the records are kept in terms of Part 2 of this Chapter; (o) enable the institution to determine when a transaction or activity is reportable to the Centre under Part 3 of this Chapter; (p) provide for the processes for reporting information to the Centre under Part 3 of this Chapter; (q) provide for the manner in which– (i) the Risk Management and Compliance Programme is implemented in branches, subsidiaries or other operations of the institution in foreign countries so as to enable the institution to comply with its obligations under this Act; (ii) the institution will determine if the host country of a foreign branch, subsidiary or other operation permits the implementation of measures required under this Act; (iii) the institution will inform the Centre and supervisory body concerned if the host country contemplated in sub-paragraph (ii) does not permit the implementation of measures required under this Act; and (iv) taking into consideration the level of risk of the host country, the institution will apply appropriate additional measures to manage the risks if the host country does not permit the implementation of measures required under this Act; (qA) provide for the manner in which and the processes by which group-wide programmes of an accountable institution for all its branches and majority-owned subsidiaries situated in the Republic is implemented so as to enable the institution to– (i) comply with its obligations under this Act; (ii) exchange information with its branches or subsidiaries relating to the customer due diligence requirements in terms of this Act; (iii) exchange information with its branches or subsidiaries relating to the analysis of transactions or activities which the institution suspects to be suspicious or unusual as contemplated in section 29; and (iv) have adequate safeguards to protect the confidentiality of information exchanged in accordance with this paragraph and this Act. (r) provide for the processes for the institution to implement its Risk Management and Compliance Programme; and (s) provide for any prescribed matter. (2A) An accountable institution must indicate in its Risk Management and Compliance Programme if any paragraph of subsection (2) is not applicable to that accountable institution and the reason why it is not applicable. (2B) The board of directors, senior management or other person or group of persons exercising the highest level of authority in an accountable institution must approve the Risk Management and Compliance Programme of the institution. (2C) An accountable institution must review its Risk Management and Compliance Programme at regular intervals to ensure that the Programme remains relevant to the accountable institution’s operations and the achievement of the requirements contemplated in subsection (2). (3) An accountable institution must make documentation describing its Risk Management and Compliance Programme available to each of its employees involved in transactions to which this Act applies. (4) An accountable institution must, on request, make a copy of the documentation describing its Risk Management and Compliance Programme available to– (a) the Centre; or (b) a supervisory body which performs regulatory or supervisory functions in respect of that accountable institution.
FICA 38 of 2001 · Section 42A
An accountable institution's board of directors (or senior management if it has no board) must ensure the institution and its staff comply with FICA and its Risk Management and Compliance Programme; a corporate accountable institution must also have a compliance function and give it a suitably senior, competent person, and a non-corporate institution (other than a sole practitioner) must appoint someone competent to assist its own senior person with the same job.
Ensure board/senior-management oversight of FICA compliance, and (unless a sole practitioner) appoint a suitably senior and competent compliance function/person.
Appoint a role
must ensure compliance by the accountable institution and its employees with the provisions of this Act and its Risk Management and Compliance Programme.
Assess applicability in workspace
42A. Governance of anti-money laundering and counter terrorist financing compliance (1) The board of directors of an accountable institution which is a legal person with a board of directors, or the senior management of an accountable institution without a board of directors, must ensure compliance by the accountable institution and its employees with the provisions of this Act and its Risk Management and Compliance Programme. (2) An accountable institution which is a legal person must– (a) have a compliance function to assist the board of directors or the senior management, as the case may be, of the institution in discharging their obligations under subsection (1); and (b) assign a person with sufficient competence and seniority to ensure the effectiveness of the compliance function contemplated in paragraph (a). (3) The person or persons exercising the highest level of authority in an accountable institution which is not a legal person must ensure compliance by the employees of the institution with the provisions of this Act and its Risk Management and Compliance Programme, in so far as the functions of those employees relate to the obligations of the institution. (4) An accountable institution which is not a legal person, except for an accountable institution which is a sole practitioner, must appoint a person or persons with sufficient competence to assist the person or persons exercising the highest level of authority in the accountable institution in discharging their obligation under subsection (3).
FICA 38 of 2001 · Section 43
An accountable institution must provide ongoing training to employees so they can comply with the applicable requirements of the Act and the institution’s RMCP, including applicable money-laundering, terrorist-financing and proliferation-financing controls and sanctions obligations.
Train employees on the applicable requirements of FICA and the institution’s RMCP, including applicable AML, terrorist-financing, proliferation-financing and sanctions controls.
Train staff
An accountable institution must provide ongoing training to its employees to enable them to comply with the provisions of this Act and the Risk Management and Compliance Programme which are applicable to them.
Assess applicability in workspace
43. Training relating to anti-money laundering and counter terrorist financing compliance An accountable institution must provide ongoing training to its employees to enable them to comply with the provisions of this Act and the Risk Management and Compliance Programme which are applicable to them.
FICA 38 of 2001 · Section 43B
Every accountable institution in Schedule 1 and reporting institution in Schedule 3 must register with the Centre within the prescribed period and in the prescribed manner, with the particulars the Centre requires, and must notify the Centre in writing of any change to those particulars within 90 days. Regulation 27A sets the period at 90 days from a Schedule amendment adding the institution’s category or from opening a new business.
Register with the Centre and keep the registered particulars up to date (notify changes within 90 days).
Report
Data items: registration particulars
must, within the prescribed period and in the prescribed manner, register with the Centre.
Assess applicability in workspace
43B. Registration by accountable institution and reporting institution (1) Every accountable institution referred to in Schedule 1 and every reporting institution referred to in Schedule 3 must, within the prescribed period and in the prescribed manner, register with the Centre. (2) The registration of an accountable institution and a reporting institution contemplated in subsection (1) must be accompanied by such particulars as the Centre may require. (3) The Centre must keep and maintain a register of every accountable institution and reporting institution registered in terms of subsection (1). (4) A registered accountable institution or reporting institution must notify the Centre, in writing, of any changes to the particulars furnished in terms of this section within 90 days after such a change.
MLR 2002 · Regulation 1
This regulation defines terms used in the Regulations, including report types and their FICA sections. For regulation 24 only, “days” means every day except Saturdays, Sundays and public holidays. That defined count governs the regulation 24 report periods; it does not by itself define a different period such as FICA section 43B’s 90 days.
Not recorded
"international funds transfer report" means a report which must be submitted in terms of section 31 of the Act;
1. Definitions In these regulations “the Act” means the Financial Intelligence Centre Act, 2001 (Act No 38 of 2001), and, unless the context otherwise indicates, any word or expression to which a meaning has been assigned in the Act has that meaning, and— "cash threshold report" means a report which must be submitted by accountable and reporting institutions in terms of section 28 of the Act; "close corporation"[definition of "close corporation" deleted by section 2(b) of Government Notice R1062 of 2017]; "days", for the purpose of regulation 24, means all days of the week excluding Saturdays, Sundays and public holidays; "foreign company" [definition of "foreign company" deleted by section 2(b) of Government Notice R1062 of 2017] "guidance" means guidance issued by the Centre in terms of regulation 28; "international funds transfer report" means a report which must be submitted in terms of section 31 of the Act; "identification document" [definition of "identification document" deleted by section 2(b) of Government Notice R1062 of 2017] "manager" [definition of "manager" deleted by section 2(b) of Government Notice R1062 of 2017] "property associated with terrorist and related activities" means property referred to in section 28A (1)(a) and (b) of the Act; "reporter" means— (a) an accountable institution or reporting institution making a cash threshold report under section 28 of the Act as contemplated in regulation 22C; (b) an accountable institution making a terrorist property report under section 28A of the Act as contemplated in regulation 22A; (c) a natural or legal person making a suspicious or unusual transaction report, suspicious or unusual activity report, terrorist financing transaction report or terrorist financing activity report, under section 29 of the Act as contemplated in regulations 23, 23A, 23B or 23C, or other entity on whose behalf such a report is made; and (d) an accountable institution making an international funds transfer report under section 31 of the Act as contemplated in regulation 23E; "South African company"[definition of "South African company" deleted by section 2(b) of Government Notice R1062 of 2017] "suspicious or unusual transaction or series of transactions" [definition of "suspicious or unusual transaction or series of transactions" inserted by section 2(c) of Government Notice R456 of 2005 and deleted by section 2(e) of Government Notice R1062 of 2017] "suspicious or unusual activity report" means a report which must be submitted— (a) in terms of section 29(1) of the Act in respect of the proceeds of unlawful activities or money laundering where the report relates to an activity which does not involve a transaction between two or more parties. or (b) in terms of section 29(2) of the Act in respect of a transaction or a series of transactions about which enquiries are made but which has not been concluded; "suspicious or unusual transaction report" means a report which must be submitted in terms of section 29(1) of the Act in respect of the proceeds of unlawful activities or mane laundering where the report relates to a transaction or series of transactions between two or more parties; "terrorist financing activity report" means a report which must be submitted (a) in terms of section 29(1) of the Act in respect of the financing of terrorism and related activities where the report relates to an activity which does not involve a transaction between two or more parties; or (b) in terms of section 29(2) of the Act in respect of a transaction or a series of transactions about which enquiries are made, but which has not been concluded; "terrorist financing transaction report" means a report which must be submitted in terms of section 29(1) of the Act in relation to the financing of terrorism and related activities where the report relates to a transaction or series of transactions between two or more parties; "terrorist property report" means a report which must be submitted in terms of section 28A of the Act; "the Amendment Act" means the Financial Intelligence Centre Amendment Act, 2008 (Act 11 of 2008); "trust"[ definition of "trust" deleted by section 2(b) of Government Notice R1062 of 2017]
MLR 2002 · Regulation 20
When an accountable institution uses a third party to keep FICA records, it must notify the Centre and its supervisory body without delay of the third party’s identity and trading name; the person controlling access; both where the records are located and where the third party’s control over them is located; and the institution’s liaison person/contact particulars.
Without delay, notify the Centre and supervisory body of the third-party record-keeper, trading name, access controller, both record-location and control-location addresses, and liaison person/contact particulars.
Report
Data items: third-party identity, trading name, name and contact particulars of person controlling access to records, address where records are located, address where third-party control of records is located, institution liaison person/contact particulars
that institution must without delay provide the Centre and the relevant supervisory body with—
Assess applicability in workspace
20. Particulars of third parties keeping records If an accountable institution appoints a third party to keep on its behalf any records which that institution must retain in terms of the Act, that institution must without delay provide the Centre and the relevant supervisory body with— (a) the third party's— (i) full name, if the third party is a natural person; or (ii) registered name, if the third party is a close corporation or company; (b) the name under which the third party conducts business; (c) the full name and contact particulars of the individual who exercises control over access to those records; (d) the address where the records are kept; (e) the address from where the third party exercises control over the records; and (f) the full name and contact particulars of the individual who liaises with the third party on behalf of the accountable institution concerning the retention of the records.
MLR 2002 · Regulation 22
A report under Part 3 of Chapter 3 of FICA must normally use the Centre’s specified format and electronic portal or other Centre-developed method. A person who lacks the technical capability to report electronically, or is for another reason indefinitely unable to do so, must use the Centre’s specified form and submit it through the Centre’s current contact particulars.
Use the Centre’s specified electronic reporting route unless the person lacks technical capability or is indefinitely unable for another reason; in either case use the specified form and submission contact.
Report
a report made under Part 3 of Chapter 3 of the Act must be made in accordance with the format specified by the Centre, and sent to the Centre electronically
Assess applicability in workspace
22. Manner of reporting (1) Subject to subregulation (2), a report made under Part 3 of Chapter 3 of the Act must be made in accordance with the format specified by the Centre, and sent to the Centre electronically by means of— (a) the internet-based reporting portal provided by the Centre for this purpose at the following internet address: http://www.fic.gov.za; or (b) a method developed by the Centre for this purpose and made available to a person who is required to make such reports. (2) If a person who is required to make a report under Part 3 of Chapter 3 of the Act— (a) does not have the technical capability to make a report in accordance with subregulation (1); or (b) is for another reason indefinitely unable to make a report in accordance with subregulation (1), that person shall make the report on a form specified by the Centre from time to time for this purpose and provide it to the Centre at the contact particulars specified by the Centre from time to time for this purpose.
MLR 2002 · Regulation 22A
A section 28A terrorist-property report must identify the reporter/contact, describe the property, identify the person controlling it on behalf of the reporting institution, list known persons/entities with an interest in it, give the grounds, indicate action taken and include the indicator. The additional director particulars concern at least one director of a company with an interest in the property (and that director’s role), not automatically a director of the reporting bank. Preserve the available-information qualifications and distinguish the property controller from an owner or beneficiary. The retained regulation cross-refers to section 28A(1)(a) and (b), although the Act text supplied here omits (b) and has operative limb (c); this source cross-reference discrepancy remains for legal/source reconciliation and does not justify excluding UN-designated property.
Include the prescribed reporter, property/controller/interested-party particulars, grounds, action taken and indicator; attach director details to an interested company, not automatically to the reporting institution.
Report
Data items: reporter and contact particulars, property description, person controlling property on behalf of reporting institution, known interested-party particulars, including available particulars of a director and role of an interested company, grounds for report, action taken, indicator
When a reporter makes a terrorist property report, the report must contain full particulars of—
Assess applicability in workspace
22A. Information to be reported concerning a terrorist property report (1) When a reporter makes a terrorist property report, the report must contain full particulars of— (a) the name of the accountable institution making the report; (b) the identifying particulars of the accountable institution on whose behalf the report is made including a registration or license number; (c) the contact address of the accountable institution on whose behalf the report is made; (d) the type of business or economic sector of the accountable institution on whose behalf the report is made; (e) the surname, first name and date of birth of a contact person; (f) the contact particulars of a contact person; and (g) if the contact person mentioned in paragraph (e) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the property concerning which a terrorist property report is made, the report must contain— (a) full particulars of— (i) the type of property concerned; and (ii) a description of the property; and (b) as much of the following information as is readily available— (i) any identifying particulars concerning the property; (ii) the estimated value of the property; (iii) the physical address where the property is located; and (iv) if the property was disposed of, the value of the disposition. (3) In respect of a person or entity exercising control over the property on behalf of the accountable institution making a terrorist property report, the report must contain full particulars of— (a) the name of the person or entity; (b) the identifying particulars of the person or entity including an identity number or a registration or licence number; (c) the contact address of the person or entity; (d) in the case of a natural person, the person's contact particulars; (e) in the case of a legal person or an entity, the surname, first name and contact particulars of a contact person; and (f) if the contact person mentioned in paragraph (d) or (e) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (4) In respect of every person who, according to the knowledge of the accountable institution making a terrorist property report, may have an interest in the property, the report must contain as much of the following information as is readily available— (a) in the case of a natural person— (i) the person's title, gender, names and surname; (ii) the person's identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iiiA) the person's alias, if any; (iv) the person's contact address in the Republic; (v) the person's country of residence; (vi) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (vii) the person's contact number; (viii) the person's occupation; (ix) the source of the funds with which the person acquired the interest in the property; (x) the person's income tax number; and (xi) the employer's name, contact address and contact particulars; and (b) in the case of a legal person or other entity, full particulars of— (i) the person's or entity's name; (ii) the person's or entity's identifying number, if it has such a number; (iii) the person's or entity's contact address in the Republic; (iv) the type of business conducted by the person or entity; (v) the person's or entity's country of origin; (vi) if the country of origin is other than the Republic, the person or entity's contact address in the country of origin; (vii) the source of the funds with which the person or entity acquired the interest in the property. (viii) In the case of a company, the information referred to in 4(a)(i) to (xi) respect of at least one director of that company and the role of such person in that company. (5) A terrorist property report must contain a description of the grounds on which the accountable institution making the report has reached the conclusion that the entity which owns or controls the property in question, or on whose behalf, or at whose direction, the property in question is owned or controlled, is an entity referred to in subsection (1)(a) or (b) of section 28A of the Act and the action taken by such accountable institution in respect thereof. (6) A terrorist property report must contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report.
MLR 2002 · Regulation 22B
The cash amount above which a transaction must be reported to the Centre under FICA section 28 is R49,999.99, so a cash payment or receipt of R50,000 or more is reportable.
Not recorded
The prescribed amount of cash above which a transaction must be reported to the Centre under section 28 of the Act is R49 999,99.
22B. Prescribed amount for cash transaction reporting The prescribed amount of cash above which a transaction must be reported to the Centre under section 28 of the Act is R49 999,99.
MLR 2002 · Regulation 22C
A cash threshold report under FICA section 28 must identify the reporting institution and a contact person, describe the transaction (location, date, value, how conducted, currency), give particulars of each party to the transaction (with extra detail for companies and their directors), give particulars of any account involved and its signatories, and include an indicator code for why the report was made.
Include the prescribed particulars (institution, transaction, parties, accounts, indicator) in every cash threshold report.
Report
Data items: reporting institution particulars, transaction particulars, party particulars, account particulars, indicator
When a reporter makes a cash threshold report, the report must contain full particulars of—
Assess applicability in workspace
22C. Information to be reported concerning a cash threshold report (1) When a reporter makes a cash threshold report, the report must contain full particulars of— (a) the name of the accountable or reporting institution making the report# (b) the identifying particulars of the accountable or reporting institution on whose behalf the report is made including a registration or license number# (c) the contact address of the accountable or reporting institution on whose behalf the report is made# (d) the type of business or economic sector of the accountable or reporting institution on whose behalf the report is made# (e) in the case of a legal person or an entity making the report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; and (f) if the contact person mentioned in paragraph (e) is— (i) a South African citizen or resident, the identifying particulars of that person and the type of identifying document from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the transaction for which a cash threshold report is made, the report must contain— (a) full particulars of— (i) the location where the transaction took place; (ii) the date of the transaction; (iii) the value of the transaction in local currency; and (iv) a description of how the transaction was conducted; and (b) as much information as is readily available concerning the currency in which the funds were disposed of. (3) In respect of each natural person conducting the transaction or legal person or entity on whose behalf the transaction is conducted, for which a cash threshold report is made, the report must contain as much of the following information as is readily available— (a) in the case of a natural person— (i) the person’s title, gender, names and surname# (ii) the person’s identifying number, nationality and date of birth# (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person’s contact address in the Republic# (v) the person’s contact number# (vi) the person’s occupation# (vii) the person’s country of residence# (viii) if the person’s country of residence is other than the Republic, the person’s contact address in the country of residence; (ix) the person’s alias, if any# (x) the person’s source of funds# (xi) the person’s income tax number# and (xii) the person’s employer’s name, contact address and contact particulars; and (b) in the case of a legal person or other entity— (i) the person’s or entity’s name# (ii) the person’s or entity’s identifying number, if it has such a number; (iii) the information referred to in paragraph (a) in respect of the natural person with authority to conduct the transaction on behalf of the person or entity; and (iv) in the case of a company, the information referred to in paragraph (a) in respect of at least one director of that company; or (v) in the case of another type of legal person or other entity, the information referred to in paragraph (a) in respect of at least one natural person associated with that legal person or entity and the role of such person in the legal person or entity. (4) If any account held at the reporter was involved in the transaction for which a cash threshold report is made, the report must contain— (a) full particulars in respect of each such account, of— (i) the account number; (ii) the name and identifying particulars of the branch or office of the reporter where each account is held; (iii) the type of account; (iv) the currency in which this account is denominated; and (v) the date on which the account was opened; and (b) as much of the following information as is readily available in respect of each signatory on each such account— (i) the person’s title, gender, names and surname# (ii) the person’s identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person’s alias, if any# (v) the person’s contact address in the Republic# (vi) the person’s country of residence; (vii) if the person’s country of residence is other than the Republic, the person’s contact address in the country of residence; (viii) the person’s contact number# (ix) the person’s occupation# (x) the source of funds of the person; (xi) the person’s income tax number# and (xii) the person’s employer’s name, contact address and contact particulars. (5) A cash threshold report must contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report.
MLR 2002 · Regulation 23
A suspicious or unusual transaction report must include the prescribed reporter, party and transaction particulars, a full description and why the transaction is suspicious or unusual, action taken, and the required indicator. Apply the regulation’s separate full-particulars and readily-available-information qualifications; this list is not a complete reporting schema or a universal customer-onboarding checklist.
Include prescribed particulars, grounds explaining why the transaction is suspicious or unusual, action taken and the indicator in each section 29(1) transaction report, subject to the regulation’s field-specific qualifications.
Report
Data items: reporter particulars, party particulars under the applicable full-particulars/readily-available branches, transaction description, grounds for suspicion or unusualness, action taken, indicator
When a reporter makes a suspicious or unusual transaction report, the report must contain full particulars of—
Assess applicability in workspace
23. Information to be reported concerning a suspicious or unusual transaction report (1) When a reporter makes a suspicious or unusual transaction report, the report must contain full particulars of— (a) the name of the natural or legal person making the report or entity on whose behalf the report is made; (b) the identifying particulars of the person or entity on whose behalf the report is made including a registration or license number; (c) the contact address of the person or entity on whose behalf the report is made; (d) the type of business or economic sector of the entity on whose behalf the report is made; (e) in the case of a natural person, making the report, the person's surname, first name, date of birth and contact particulars; (f) in the case of a legal person or an entity making the report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; and (g) if the person mentioned in paragraph (e) or (f) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the transaction or series of transactions concerning which a suspicious or unusual transaction report is made, the report must contain— (a) full particulars of— (i) the location where— (aa) the transaction, or (bb) in the case of a series of transactions, each of the transactions in that series, took place; (ii) the date of the transaction, or, in the case of a series of transactions the period over which the transactions were conducted; (iii) a description of how the transaction or series of transactions were conducted; (iv) if the transaction or series of transactions involved property comprising money, the amount in local currency; and (v) if the transaction or series of transactions involved property other than money, a description of the type of property and all identifying characteristics of the property; and (b) as much of the following information as is readily available— (i) if the transaction or series of transactions involved property, the estimated value of the property; (ii) if the property involved in the transaction or series of transactions was disposed of— (aa) the manner in which it was disposed of; (bb) the amount of the disposition, in the case of property comprising money; (cc) the currency of the disposition in the case of property comprising money; (dd) the value for which the property was disposed of, in the case of property other than money; and (ee) the currency used in the disposition of the property, in the case of property other than money; (iii) if another institution or person was involved in the transaction or series of transactions— (aa) the name of the other institution or person; and (bb) the number of any account at the other institution involved in the transaction or series of transactions; (iv) the name and identifying particulars of the branch or office where the transaction or series of transactions was conducted; and (v) any remarks, comments, reasons or explanations which the person conducting the transaction or series of transactions may have made or given. (3) If any account held at the reporter was involved in the transaction or series of transactions concerning which a suspicious or unusual transaction report is made, the report must contain— (a) full particulars in respect of each such account, of— (i) the account number; (ii) the name and identifying particulars or branch or office where each account is held; (iii) the type of account; (iv) the currency in which this account is denominated; (v) the date on which the account was opened; (vi) the reference numbers allocated by the Centre and the reporter to any previous reports made in connection with the account; (vii) the balance in the account on the date on which the report is made; and (viii) the status of the account immediately before the reported transaction or series of transactions was carried out; and (b) as much of the following information as is readily available in respect of each such account— (i) if the account was closed the date on which the account was closed; (ii) the balance in the account immediately before the transaction or series of transactions was carried out; and (iii) in respect of each signatory on the account— (aa) the person's title, gender, names and surname; (bb) the person's identifying number, nationality and date of birth; (cc) the source of identifying information from which the particulars referred to in subparagraphs (aa) and (bb) were obtained; (dd) the person's alias, if any; (ee) the person's contact address in the Republic; (ff) the person's country of residence; (gg) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (hh) the person's contact number; (ii) the person's occupation; (kk) the source of funds of the person; (ll) the person's income tax number (mm) the person's employer's name, contact address and contact particulars; and (nn) the role of such signatory. (3A) In respect of each holder of each account referred to in subregulation (3), the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title, gender, nationality and alias, if any; (bb) the person's contact address in the Republic; (cc) the person's country of residence; (dd) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ee) the person's contact numbers; (ff) the person's occupation; (gg) the person's source of funds; (hh) the person's income tax number; and (ii) the person's employer's name, contact address and contact particulars; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person's or entity's contact address in the country of incorporation or origin; (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company; (ff) if the person or entity has been closed, the date when it was closed; and (gg) the tax number of the person or entity. (4) In respect of each client of the reporter, concerning whom a suspicious or unusual transaction report is made, the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; (ii) as much of the following information as is readily available— (aa) the person's alias, if any; (bb) the person's country of residence; (cc) if the person's country of residence is the Republic, the person's contact address in the Republic; (dd) if the person's country of residence is other than the Republic the person's contact address in the country of residence; (ee) the person's contact number; (ff) the person's occupation; (gg) the person's source of funds; (hh) the person's income tax number; and (ii) the person's employer's name, contact address and contact particulars; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the type of business conducted by the person or entity; (bb) the names of the natural person's with authority to conduct the transaction on behalf of the person or entity; (cc) the person's or entity's country of incorporation or origin and contact address; (dd) if the country of incorporation or origin is other than the Republic, the person or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company; (5) In respect of a natural person conducting a transaction or series of transactions concerning which a suspicious or unusual transaction report is made, on behalf of another natural person or a legal person or other entity, the report must contain as much of the following information as is readily available— (a) the person's title, gender, names and surname; (b) the person's identifying number, nationality and date of birth; (c) the source of identifying information from which the particulars referred to in subparagraphs (a) and (b) were obtained; (d) the person's contact address in the Republic; (e) the person's contact number; (f) the person's occupation; (g) the person's country of residence; (h) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (i) the person's alias, if any; (j) the person's source of funds; (k) the person's income tax number; and (l) the person's employer's name, contact address and contact particulars. (6) A suspicious or unusual transaction report must— (a) contain a full description of the suspicious or unusual transaction or series of transactions, including the reason why it is deemed to be suspicious or unusual as contemplated in section 29; (b) indicate what action the natural or legal person making the report, or other entity on whose behalf the report is made, has taken in connection with the transaction or series of transactions concerning which the report is made; and (c) contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report.
MLR 2002 · Regulation 23A
A suspicious or unusual activity report must include the prescribed reporter/contact, activity, account, client and representative particulars under the applicable full-particulars and readily-available-information branches; describe the activity and why it is suspicious or unusual; state action taken; provide the indicator; and give earlier related report reference numbers. These report-field qualifications are not universal onboarding data requirements.
Include the prescribed activity-report particulars, grounds, action taken, indicator and applicable prior-report references, observing each full-particulars/readily-available qualification.
Report
Data items: reporter/contact particulars, applicable party/account particulars, activity description, grounds for suspicion or unusualness, action taken, indicator, reference numbers of earlier related reports
When a reporter makes a suspicious or unusual activity report, the report must contain full particulars of—
Assess applicability in workspace
23A Information to be reported concerning a suspicious or unusual activity report (1) When a reporter makes a suspicious or unusual activity report, the report must contain full particulars of— (a) the name of the natural or legal person making the report or entity on whose behalf the report is made; (b) the identifying particulars of the person or entity on whose behalf the report is made including a registration or license number; (c) the contact address of the person or entity on whose behalf the report is made; (d) the type of business or economic sector of the entity on whose behalf the report is made; (e) in the case of a natural person who is making the report, the person's surname, first name, date of birth and contact particulars; (f) in the case of a natural person or an entity making the report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; and (g) if the person mentioned in paragraph (e) or (f) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the activity concerning which a suspicious or unusual activity report is made, the report must contain as much of the following information as is readily available— (a) the location where the suspicious or unusual activity took place; (b) the date on which the suspicious or unusual activity took place; (c) a description of how the suspicious or unusual activity was conducted; (d) if the suspicious or unusual activity involved property comprising money, the amount in local currency; (e) if the suspicious or unusual activity involved property other than money, a description of the type of property, all identifying characteristics of the property and the estimated value of the property; (f) if the property involved in the suspicious or unusual activity were disposed of the manner in which it was disposed of— (i) the manner in which it was disposed of; (ii) the amount of the disposition, in the case of property comprising money; (iii) the currency of the disposition, in the case of property comprising money; (iv) the value for which the property was disposed of, in the case of property other than money; and (v) the currency used in the disposition, in the case of property other than money; (g) if another institution or person was involved in the suspicious or unusual activity— (i) the name of the other institution or person; and (ii) the number of any account at the other institution involved in the suspicious or unusual activity; (h) the name and identifying particulars of the branch or office where the suspicious or unusual activity was conducted; and (i) any remarks, comments, reasons or explanations which the person conducting the suspicious or unusual activity may have made or given. (3) If an account held at the reporter was involved in the suspicious or unusual activity concerning which a suspicious or unusual activity report is made, then the report must contain as much of the following information as is readily available in respect of each such account— (a) the account number; (b) the name and identifying particulars of the branch or office where each account is held; (c) the type of account; (d) the currency in which this account is denominated; (e) the date on which the account was opened; (f) the balance in the account on the date on which the report is made; (g) the status of the account immediately before the reported activity was carried out; (h) if the account was closed the date on which the account was closed; and (i) in respect of each signatory on the account— (i) the person's title, gender, names and surname; (ii) the person's identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person's alias if any; (v) the person's contact address in the Republic; (vi) the person's country of residence; (vii) if the person's country of residence is other than the Republic, the person's contact address in the country of residence (viii) the person's contact number; (ix) the person's occupation; (x) the source of funds of the person; (xi) the person's income tax number; (xii) the person's employers name, contact address and contact particulars; and (xiii) the role of such signatory. (4) In respect of each holder of each account referred to in subregulation (3), the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title and gender; (bb) the person's alias, if any; (cc) the person's contact address in the Republic; (dd) the person's country of residence; (ee) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ff) the person's contact number; (gg) the person's occupation; (hh) the source of funds of the person; (ii) the person's income tax number; (jj) the person's employer's name, contact address and contact particulars; and (kk) the source of identifying information from which the particulars referred to in subparagraphs (aa) and (bb) were obtained and the issuin county; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person's or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company. (5) In respect of each client of the reporter concerning whom a suspicious or unusual activity report is made, the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number, and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title and gender; (bb) the person's alias, if any; (cc) the person's country of residence; (dd) if the person's country of residence is the Republic, the person's contact address in the Republic; (ee) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ff) the person's contact number; (gg) the person's occupation; (hh) the source of funds of the person; (ii) the person's income tax number; (jj) the person's employer's name, contact address and contact particulars; (kk) the source of identifying information from which the particulars referred to in subparagraph (a)(i)(aa) and (a)(i)(bb) were obtained; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company; (ff) if the person or entity has been closed, the date when it was closed; and (gg) the tax number of the person or entity. (6) In respect of a natural person conducting a suspicious or unusual activity concerning which a suspicious or unusual activity report is made, on behalf of another natural person or a legal person or other entity, the report must contain as much of the following information as is readily available — (a) the person's title, gender, names and surname; (b) the person's identifying number, nationality and date of birth; (c) the source of identifying information from which the particulars referred to in subparagraphs (a) and (b) were obtained; (d) the person's alias, if any; (e) the person's contact address in the Republic; (f) the person's country of residence; (g) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (h) the person's contact number; (i) the person's occupation; (j) the source of funds of the person; (k) the person's income tax number; and (l) the person's employer's name, contact address and contact particulars. (7) A suspicious or unusual activity report must— (a) contain a full description of the suspicious or unusual activity, including the reason why it is deemed to be suspicious or unusual as contemplated in section 29; (b) indicate what action the natural or legal person making the report or other entity on whose behalf the report is made, has taken in connection with the suspicious or unusual activity concerning which the report is made; (c) contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report; and (d) contain the reference numbers allocated by the Centre and the reporter to any previous reports made.
MLR 2002 · Regulation 23B
A terrorist-financing transaction report must include the prescribed reporter and party particulars, a full transaction description including why it is suspicious or unusual under section 29, action taken, and the indicator. Preserve each field’s full-particulars or readily-available-information qualification; this is a report schema, not a universal onboarding checklist.
Include prescribed particulars, the grounds explaining why the transaction is suspicious or unusual, action taken and the indicator in each terrorist-financing transaction report, subject to field-specific qualifications.
Report
Data items: reporter particulars, party particulars under applicable full-particulars/readily-available branches, transaction description, grounds why the transaction is suspicious or unusual, action taken, indicator
When a reporter makes a terrorist financing transaction report, the report must contain full particulars of—
Assess applicability in workspace
23B. Information to be reported concerning a terrorist financing transaction report (1) When a reporter makes a terrorist financing transaction report, the report must contain full particulars of— (a) the name of the natural or legal person making the report or entity on whose behalf the report is made; (b) the identifying particulars of the person or entity on whose behalf the report is made including a regstration or license number; (c) the contact address of the person or entity on whose behalf the report is made; (d) the type of business or economic sector of the entity on whose behalf the report is made; (e) in the case of a natural person making the report, the person's surname, first name, date of birth and contact particulars; (f) in the case of a legal person or an entity making the report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; (g) if the person mentioned in paragraph (e) or (f) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the transaction or series of transactions concerning which a terrorist financing transaction report is made, the report must contain— (a) full particulars of— (i) the location where— (aa) the transaction: or (bb) in the case of a series of transactions, each of the transactions in that series, took place; (ii) the date of the transaction, or, in the case of a series of transactions, the period over which the transactions were conducted; (iii) a description of how the transaction or series of transactions were conducted; (iv) if the transaction or series of transactions involved property comprising money, the amount in local currency; and (v) if the transaction or series of transactions involved property other than money, a description of the type of property and all identifying characteristics of the property; and (b) as much of the following information as is readily available— (i) if the transaction or series of transactions involved property, the estimated value of the property; (ii) if the property involved in the transaction or series of transactions were disposed of— (aa) the manner in which it was disposed of; (bb) the amount of the disposition, in the case of property comprising money; (cc) the currency of the disposition, in the case of property comprising money; (dd) the value for which the property was disposed of, in the case of property other than money; and (ee) the currency used in the disposition, in the case of property other than money; (iii) if another institution or person was involved in the transaction or series of transactions— (aa) the name of the other institution or person; and (bb) the number of any account at the other institution involved in the transaction or series of transactions; (iv) the name and identifying particulars of the branch or office where the transaction or series of transactions was conducted; and (v) any remarks, comments, reasons or explanations which the person conducting the transaction or series of transactions may have made or given. (3) If any account held at the reporter was involved in the transaction or series of transactions concerning which a terrorist financing transaction report is made the report must contain— (a) full particulars in respect of each such account, of— (i) the account number; (ii) the name and identifying particulars of the branch or office where each account is held; (iii) the type of account; (iv) the currency in which this account is denominated; (v) the date on which the account was opened; (vi) the reference numbers allocated by the Centre and the reporter to any previous reports made in connection with the account; (vii) the balance in the account on the date on which the report is made; and (viii) the status of the account immediately before the reported transaction or series of transactions was carried out; and (b) as much of the following information as is readily available in respect of each such account— (i) if the account was closed the date on which the account was closed; (ii) the balance in the account immediately before the transaction or series of transactions was carried out; and (aa) the person's title, gender, names and surname; (bb) the person's identifying number, nationality and date of birth; (cc) the source of identifying information from which the particulars referred to in subparagraphs (aa) and (bb) were obtained; (dd) the person's alias, if any; (ee) the person's contact address in the Republic; (ff) the person's country of residence; (gg) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (hh) the person's contact number; (ii) the person's occupation; (jj) the source of funds of the person; (kk) the person's income tax number; (ll) the person's employer's name, contact address and contact particulars; and (mm) the role of such signatory. (4) In respect of each holder of each account referred to in subregulation (3) the report must contain— (a) in the case of a natural person (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title, gender, nationality and alias, if any; (bb) the person's contact address in the Republic; (cc) the person's country of residence. (dd) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ee) the person's contact number; (ff) the person's occupaation; (gg) the person's source of funds; (hh) the person's income tax number; and (ii) the person's employer's name, contact address and contact particulars; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying numbers if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of busines conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other then the Republic, the person's or entity's contact address in the country of incorporation or origin; (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company; (ff) if the person or entity has been closed, the date when it was closed; and (gg) the tax number of the person or entity. (5) in respect of each client of the reporter, concerning whom a terrorist financing transaction report is made, the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's alias, if any; (bb) the person's country of residence; (cc) if the person's country of residence is the Republic, the person's contact address in the Republic; (dd) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ee) the person's contact number; (ff) the person's occupation; (gg) the person's source of funds; (hh) the person's income tax numbers; and (ii) the person's employer's name, contact address and contact particulars; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the type of business conducted by the person or entity; (bb) the names of the natural person with authority to conduct the transaction on behalf of the person or entity; (cc) the person's or entity's country of incorporation or origin and contact address; (dd) if the country of incorporation or origin is other than the Republic, the person's or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company. (6) In respect of a natural person conducting a transaction or series of transactions concerning which a terrorist financing transaction report is made, on behalf of another natural person or a legal person or other entity, the report must contain as much of the following information as is readily available — (a) the person's title, gender, names and surname; (b) the person's identifying number, nationality and date of birth; (c) the source of identifying information from which the particulars referred to in subparagraghs (a) and (b) were obtained; (d) the person's alias, if any; (e) the person's contact address in the Republic; (f) the person's country of residence; (g) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (h) the person's contact number; (i) the person's occupation; (j) the person's source of funds; (k) the person's income tax number; and (l) the person's employer's name, contact address and contact particulars. (7) A terrorist financing transaction report must— (a) contain a full description of the terrorist financing transaction or series of transactions, including the reason why it is deemed to be suspicious or unusual as contemplated in section 29; (b) indicate what action the natural or legal person making the report, or other entity on whose behalf the report is made, has taken in connection with the transaction or series of transactions concerning which the report is made; and (c) contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report.
MLR 2002 · Regulation 23C
A terrorist-financing activity report must include the prescribed reporter, activity, account, client and representative particulars under the applicable full-particulars and readily-available-information branches; describe the activity and why it is suspicious or unusual under section 29; state action taken; provide the indicator; and give reference numbers of earlier related reports. These report-field qualifications are not universal onboarding data requirements.
Include prescribed activity-report particulars, grounds, action taken, indicator and prior-report references in each terrorist-financing activity report, observing field-specific qualifications.
Report
Data items: reporter/contact particulars, applicable party/account particulars, activity description, grounds why the activity is suspicious or unusual, action taken, indicator, reference numbers of earlier related reports
When a reporter makes a terrorist financing activity report, the report must contain full particulars of—
Assess applicability in workspace
23C. Information to be reported concerning a terrorist financing activity report (1) When a reporter makes a terrorist financing activity report, the report must contain full particulars of— (a) the name of the natural or legal person making the report or entity on whose behalf the report is made; (b) the identifying particulars of the person or entity on whose behalf the report is made including a registration or license number; (c) the contact address of the person or entity on whose behalf the report is made; (d) the type of business or economic sector of the entity on whose behalf the report is made. (e) in the case of a natural person who is making the report, the person's surname, first name, date of birth and contact particulars; (f) in the case of a legal person or an entity making the report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; and (g) if the person mentioned in paragraph (e) or (f) is— (i) a South African citizen or resident, the identifying particulars of that person and the source of identifying information from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of the activity concerning which a terrorist financing activity report is made, the report must contain as much of the following information as is readily available— (a) the location where the activity took place; (b) the date on which the activity took place; (c) a description of how the activity was conducted; (d) if the activity involved property comprising money, the amount in local currency; (e) if the activity involved property other than money, a description of the type of property, all identifying characteristics of the property and the estimated value of the propety; (f) if the property involved in the activity were disposed of— (i) the manner in which it was disposed of; (ii) the amount of the disposition, in the case of property comprising money; (iii) the currency of the disposition, in the case of property comprising money; (iv) the value for which the property was disposed of, in the case of property other than money; (v) the currency used in the disposition, in the case of property other than money; (g) if another institution or person was involved in the activity— (i) the name of the other institution or person; and (ii) the number of any account at the other institution involved in the activity; (h) the name and identifying particulars of the branch or office where the activity was conducted; and (i) any remarks, comments, reasons or explanations which the person conducting the activity may have made or given. (3) If any account held at the reporter was involved in the activity concerning which a terrorist financing activity report is made, then the report must contain as much of the following information as is readily available in respect of each such account— (a) the account number; (b) the name and identifying particulars of the branch or office where each account is held; (c) the type of account; (d) the currency in which this account is denominated; (e) the date on which the account was opened; (f) the balance in the account on the date on which the report is made; (g) the status of the account immediately before the reported activity was carried out; (h) if the account was closed the date on which the account was closed; and (i) in respect of each signatory on the account— (i) the person's title, gender, names and surname; (ii) the person's identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person's alias, if any; (v) the person's contact address in the Republic; (vi) the person's country of residence; (vii) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (viii) the person's contact number; (ix) the person's occupation; (x) the source of funds of the person; (xi) the person's income tax number; (xii) the person's employer's name, contact address and contact particulars; and (xiii) the role of such signatory. (4) In respect of each holder of each account referred to in subregulation 3 the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title and gender; (bb) the person's alias if any; (cc) the person's contact address in the Republic: (dd) the person's country of residence; (ee) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ff) the person's contact number; (gg) the person's occupation; (hh) the person's source of funds; (ii) the person's income tax number; and (jj) the person's employer's name, contact address and contact particulars, and (kk) the source of identifying information from which the particulars referred to in subparagraphs (a)(i)(aa) an (a)(i)(bb) were obtained and the issuing country; or (b) in the case of a legal person or other entity— (i) full articulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identiying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person's or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii) in respect of at least one director of that company and the role of such person in that company; (ff) if the person or entity has been closed, the date on which it was closed; and (gg) the tax number of the person or entity. (5) In respect of each client of the reporter concerning whom a terrorist financing activity report is made, the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person's names and surname; (bb) the person's identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person's title and gender; (bb) the person's alias, if any; (cc) the person's country of residence; (dd) if the person's country of residence is the Republic, the person's contact address in the Republic; (ee) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (ff) the person's contact number; (gg) the person's occupation; (hh) the person's source of funds; (ii) the person's income tax number; (jj) the person's employer's name, contact address and contact particulars; and (kk) the source of identifying information from which the particulars referred to in subparagraphs (a)(i)(aa) and (a)(i)(bb) were obtained and the issuing country; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person's or entity's name; and (bb) the person's or entity's identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person's or entity's contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person's or entity's country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person or entity's contact address in the country of incorporation or origin; and (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company and the role of such person in that company; (ff) if the person or entity has been closed, the date when it was closed; and (gg) the tax number of the person or entity. (6) In respect of a natural person conducting an activity concerning which a terrorist financing activity report is made, on behalf of another natural person or a legal person or other entity, the report must contain as much of the following information as is readily available— (a) the person's title, gender, names and surname; (b) the person's identifying number, nationality and date of birth; (c) the source of identifying information from which the particulars referred to in subparagraphs (a) and (b) were obtained; (d) the person's alias, if any; (e) the person's contact address in the Republic; (f) the person's country of residence; (g) if the person's country of residence is other than the Republic, the person's contact address in the country of residence; (h) the person's contact number; (i) the person's occupation; (j) the person's source of funds; (k) the person's income tax number; and (l) the person's employer's name, contact address and contact particulars. (7) A terrorist financing activity report must— (a) contain a full description of the activity which is the subject of the terrorist financing activity report, including the reason why it is deemed to be suspicious or unusual as contemplated in section 29; (b) indicate what action the natural or legal person making the report, or other entity on whose behalf the report is made, has taken in connection with the activity concerning which the report is made; (c) contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report; and (d) contain the reference numbers allocated by the Centre and the reporter to any previous reports made.
MLR 2002 · Regulation 23D
The amount above which an international electronic funds transfer must be reported to the Centre under FICA section 31 is R19,999.99, so a transfer of R20,000 or more is reportable.
Not recorded
The prescribed amount of funds above which a transaction must be reported to the Centre under section 31 of the Act is R19 999,99.
23D. Prescribed amount for the reporting of an international funds transfer report The prescribed amount of funds above which a transaction must be reported to the Centre under section 31 of the Act is R19 999,99.
MLR 2002 · Regulation 23E
An international funds transfer report under FICA section 31 must identify the reporting institution and a contact person, give particulars of the transfer and of the parties on each side, give particulars of any account involved, and carry an indicator code for the circumstances that gave rise to the report.
Include the prescribed particulars (institution, transfer, parties, accounts, indicator) in every international funds transfer report.
Report
Data items: reporting institution particulars, transfer particulars, party particulars, account particulars, indicator
When a reporter makes an international funds transfer report, the report must contain full particulars of—
Assess applicability in workspace
23E. Information to be reported concerning an international funds transfer report (1) When a reporter makes an international funds transfer report, the report must contain full particulars of— (a) the name of the accountable institution making the report; (b) the identifying particulars of the accountable institution on whose behalf the report is made including a registration or license number; (c) the contact address of the accountable institution on whose behalf the report is made; (d) the type of business or economic sector of the accountable institution on whose behalf the report is made; (e) in the case of a legal person or an entity making a report, the surname, first name, date of birth and contact particulars of a contact person who may be contacted in relation to the report; and (f) if the contact person mentioned in paragraph (e) is— (i) a South African citizen or resident, the identifying particulars of that person and the type of identifying document from which the particulars were obtained; or (ii) not a South African citizen or resident, the identifying particulars of that contact person and the source of identifying information from which the particulars referred to were obtained and the issuing country thereof. (2) In respect of any transaction for which an international funds transfer report is made, the report must contain— (a) full particulars of— (i) the location where the transaction took place; (ii) the date of the transaction; (iii) the value of the transaction in local currency; and (iv) a description of how the transaction was conducted; and (b) as much of the following information as is readily available— (i) the foreign currency value, currency code and conversion rate applied by the reporter, if the funds or any portion of the funds were converted into foreign currency; (ii) the unique internal reference number for the transaction, if such a number was allocated to the transaction; (iii) the Internet Protocol address pertaining to the device by means of which the transaction was conducted if the transaction was conducted by means of an internet transaction facility; (iv) the merchant location if the transaction was conducted by means of a credit or debit card; (v) a description of the South African Reserve Bank Balance of Payments category; (vi) a description of the South African Reserve Bank Balance of Payments subcategory; and (vii) the stated purpose for the transaction. (3) In respect of a transaction by which funds are sent out of the Republic for which an international funds transfer report is made, the report must contain— (a) full particulars of— (i) the location of the institution where the funds will be received; and (ii) the SWIFT code of the institution or institution code where the funds will be received; and (b) as much of the following information as is readily available— (i) the particulars of the recipient of the funds; and (ii) the number of the account to which the funds will be credited, if the funds are to be credited to an account. (4) In respect of a transaction by which funds are received in the Republic for which an international funds transfer report is made, the report must contain— (a) full particulars of— (i) the location of the institution from where the transaction originated; and (ii) the SWIFT code of the institution or institution code from where the transaction originated; and (b) as much of the following information as is readily available— (i) the particulars of the originator of the transaction; and (ii) the number of the account from which the funds are sent, if the funds are sent from an account. (5) In respect of a person conducting a transaction for which an international funds transfer report is made, or an entity for which a natural person is conducting such a transaction, the report must contain as much of the following information as is readily available— (a) in the case of a natural person— (i) the person’s title, gender, names and surname; (ii) the person’s identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person’s contact address in the Republic; (v) the person’s contact number; (vi) the person’s occupation; (vii) the person’s country of residence; (viii) if the person’s country of residence is other than the Republic, the person’s contact address in the country of residence; (ix) the person’s alias, if any; (x) the person’s source of funds; (xi) the person’s income tax number; and (xii) the person’s employer’s name, contact address and contact particulars; and (b) in the case of a legal person or entity— (i) the person’s or entity’s name; (ii) the person’s or entity’s identifying number, if it has such a number; (iii) the information referred to in paragraph (a) in respect of the natural person with authority to conduct the transaction on behalf of the person or entity; and (iv) in the case of a company, the information referred to in paragraph (a) in respect of at least one director of that company; or (v) in the case of another type of legal person or other entity, the information referred to in paragraph (a) in respect of at least one natural person associated with that legal person or entity and the role of such person in the legal person or entity. (6) If any account held at the reporter was involved in the transaction for which an international funds transfer report is made, the report must contain— (a) full particulars in respect of each such account, of— (i) the account number; (ii) the name and identifying particulars of the branch or office of the reporter where each account is held; (iii) the type of account; (iv) the currency in which this account is denominated; and (v) the date on which the account was opened; and (b) as much of the following information as is readily available in respect of each signatory on each such account— (i) the person’s title, gender, names and surname; (ii) the person’s identifying number, nationality and date of birth; (iii) the source of identifying information from which the particulars referred to in subparagraphs (i) and (ii) were obtained; (iv) the person’s alias, if any; (v) the person’s contact address in the Republic; (vi) the person’s country of residence; (vii) if the person’s country of residence is other than the Republic, the person’s contact address in the country of residence; (viii) the person’s contact number; (ix) the person’s occupation; (x) the source of funds of the person; (xi) the person’s income tax number; and (xii) the person’s employer’s name, contact address and contact particulars. (7) In respect of each holder of each account referred to in subregulation (6), the report must contain— (a) in the case of a natural person— (i) full particulars of— (aa) the person’s names and surname; (bb) the person’s identifying number and date of birth; and (ii) as much of the following information as is readily available— (aa) the person’s title, gender, nationality and alias, if any; (bb) the person’s contact address in the Republic; (cc) the person’s country of residence; (dd) if the person’s country of residence is other than the Republic, the person’s contact address in the country of residence; (ee) the person’s contact number; (ff) the person’s occupation; (gg) the person’s source of funds; (hh) the person’s income tax number; and (ii) the person’s employer’s name, contact address and contact particulars; or (b) in the case of a legal person or other entity— (i) full particulars of— (aa) the person’s or entity’s name; and (bb) the person’s or entity’s identifying number, if it has such a number; and (ii) as much of the following information as is readily available— (aa) the person’s or entity’s contact address in the Republic; (bb) the type of business conducted by the person or entity; (cc) the person’s or entity’s country of incorporation or origin; (dd) if the country of incorporation or origin is other than the Republic, the person’s or entity’s contact address in the country of incorporation or origin; (ee) in the case of a company, the information referred to in paragraph (a)(i) and (ii), in respect of at least one director of that company; and (ff) the tax number of the person or entity. (8) An international funds transfer report must contain an indicator or indicators in respect of the circumstances that gave rise to the submission of the report.
MLR 2002 · Regulation 24
Every listed report must be sent as soon as possible; its stated period is an outer limit, not a target or permission to wait for internal approval. For section 28A, send within 5 regulation-defined days after a specified natural person establishes that the institution has the property; a later-date request must reach the Centre before expiry, and late filing requires Centre approval. For section 29, send within 15 defined days after the specified person becomes aware of the relevant reportable fact; the Centre may approve later filing. For section 28 cash reports, send within 3 defined days after the specified person becomes aware that the cash transaction exceeded the prescribed limit. For section 31 international funds transfer reports, send within 3 defined days after the specified person becomes aware of a fact that the transfer exceeded its prescribed limit, read with section 31’s after-transfer wording. “Days” here excludes Saturdays, Sundays and public holidays. Centre approval is only available for sections 28A and 29; it is not automatic, and only section 28A has the express before-expiry request rule. Do not extend this day definition to section 43B’s 90-day change-notification duty.
File each report as soon as possible and within its regulation 24 outer limit using the regulation-defined day count (excluding Saturdays, Sundays and public holidays): 5 days for section 28A, 15 for section 29, and 3 for sections 28 and 31, each from its stated awareness/establishment trigger. Only sections 28A and 29 allow Centre-approved late filing; a section 28A request must reach the Centre before expiry.
Report
A report under section 28A of the Act must be sent to the Centre as soon as possible but not later than 5 days after
Assess applicability in workspace
24. Period for reporting (1) A report under section 28A of the Act must be sent to the Centre as soon as possible but not later than 5 days after a natural person who is an accountable institution or is in charge of, manages or is employed by an accountable institution, had established that the accountable institution has property associated with terrorist and related activities in its possession or under its control, unless the Centre has approved of the report being sent after the expiry of this period. (2) A request for a report referred to in subregulation (1) to be sent to the Centre after the period referred to in that subregulation must reach the Centre before the expiry of that period. (3) A report under section 29 of the Act must be sent to the Centre as soon as possible but not later than fifteen days after a natural person or any of his or her employees, or any of the employees or officers of a legal person or other entity, has become aware of a fact concerning a transaction on the basis of which knowledge or a suspicion concerning the transaction must be reported, unless the Centre has approved of the report being sent after the expiry of this period. (4) A report under section 28 of the Act must be sent to the Centre as soon as possible but not later than 3 days after a natural person or any of his or her employees, or any of the employees of officers of a legal person or other entity, has become aware of a fact of a cash transaction that has exceeded the prescribed limit. (5) A report under section 31 of the Act must be sent to the Centre as soon as possible but not later than 3 days after a natural person or any of his or her employees, or any of the employees or officers of a legal person or other entity, has become aware of a fact of an international funds transfer that has exceeded the prescribed limit.
MLR 2002 · Regulation 24A
If the Centre asks for additional information under FICA section 32, the institution (or other person asked) must supply it within the number of days the Centre specifies, in the Centre's required format, normally through the online reporting portal.
Furnish additional information requested by the Centre under FICA section 32 within the Centre's specified period and format.
Report
Data items: additional information requested by the Centre
must, after receiving such request from the Centre and within the number of days specified in the request furnish to the Centre the additional information
Assess applicability in workspace
24A. Manner in which and period within additional information to be furnished An accountable institution, a reporting institution or any other person that receives a request for additional information from the Centre in terms of section 32 of the Act must, after receiving such request from the Centre and within the number of days specified in the request furnish to the Centre the additional information— (a) in accordance with the format and content specified by the Centre; and (b) electronically by means of the internet-based reporting portal provided by the Centre at the internet address, http://www.fic.gov.za, or by any other means specified by the Centre.
MLR 2002 · Regulation 27A
The original 2010-2011 registration window is historical. Under the retained consolidation, a category added to Schedule 1 or Schedule 3 must register within 90 days after Gazette publication; a person/category commencing a new business within either Schedule must register within 90 days after opening. Registration is electronic through the Centre’s specified portal. A person lacking technical capability must use the Centre’s specified form/contact; the regulation’s fallback is not the broader indefinite-inability rule in regulation 22(2). Registration is not licensing and has no fee. Separately, FICA section 43B(4) requires a registered institution to notify changes to its particulars in writing within 90 days after the change.
Register within the applicable 90-day period after a Schedule amendment or opening a newly covered business, and keep this distinct from section 43B(4)’s continuing written change-notification duty within 90 days after a particulars change. Use the form fallback only when the person lacks technical capability; registration is not a licence.
must, within 90 days of the day the business opened, register with the Centre.
Assess applicability in workspace
27A. Period for and manner of registration by accountable institutions and reporting institutions (1) Every accountable institution referred to in Schedule 1 of the Act and every reporting institution referred to in Schedule 3 of the Act must, within the period commencing 1 December 2010 until 1 March 2011, register with the Centre in terms of section 43B of the Act. (2) Any person or category of persons added to the list in Schedule 1 or Schedule 3 of the Act after the commencement of this regulation must register with the Centre within 90 days after the amended Schedule 1 or Schedule 3 is published by notice in the Gazette. (3) Any person or category of persons who, on commencing a new business, fall within the list of accountable institutions or reporting institutions in Schedule 1 and Schedule 3 respectively must, within 90 days of the day the business opened, register with the Centre. (4) The registration of an accountable institution and a reporting institution contemplated in subregulation (1), (2) and (3) must be in accordance with the format specified by the Centre and must be submitted to the Centre electronically by means of the internet-based reporting portal provided by the Centre for this purpose at the following internet address: http://www.fic.gov.za (5) If a person does not have the technical capability to register in accordance with subregulation (4) that person must submit the registration on a form specified by the Centre at the contact particulars specified by the Centre from time to time for this purpose. (6) The registration of an accountable institution or a reporting institution is not a licensing process and no license will be issued on the completion of a registration contemplated in subregulation (1), (2) and (3). (7) No fee is payable for a registration contemplated in subregulation (1), (2) or (3).
GN R.7577 of 2026 · GN R.7577, amending Schedule, clause 4; regulation 22(1) and (3)
If a bank is required to submit a report under FICA section 28, 28A, 29 or 31, it must use the FIC format and submit electronically through the FIC portal or another FIC-developed electronic method made available to the required reporter, subject to regulation 22(2). Section 30 reports separately use the manner and format SARS specifies; that does not create a bank reporting trigger.
For an otherwise-required report under FICA section 28, 28A, 29 or 31, use the FIC format and an electronic FIC portal or other FIC-developed method made available to the reporter, subject to regulation 22(2).
Report
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
GN R.7577 of 2026 · GN R.7577, amending Schedule, clause 5; regulations 23F–23G
A person conveying cash or bearer negotiable instruments into or out of South Africa at R100,000 or more (or foreign-currency equivalent) is within the reporting threshold. Regulation 23G specifies report-maker, represented-person, travel, amount, origin, source and purpose particulars.
Not recorded
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
PA Guidance Note G5/2024 · PA Guidance Note G5/2024, paragraph 3.2.2
PA Guidance Note G5/2024, paragraph 3.2.2: The methodology should cover purpose, assessment period and frequency, stakeholders, assessment design and residual-risk calculation. After the assessment, the process should obtain senior-management approval of the assessment and track issues and remediate gaps identified through it.
PA Guidance Note G5/2024, paragraph 3.2.2: The PA guidance recommends the practice summarized in plainEnglish.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
PA Guidance Note G5/2024 · PA Guidance Note G5/2024, paragraph 3.7.2
PA Guidance Note G5/2024, paragraph 3.7.2: The bank should review and score each product or service. Each business unit can determine offering volumes and related account balances or transactions, and that data can be used to assess exposure. Accountable institutions should also be aware of innovative services or technologies delivered using the bank’s services by other providers. When the institution adopts a new product or technology, a risk assessment must take place before product launch and technology utilisation; this is wording in supervisory guidance, not a freestanding statutory duty.
The PA guidance recommends reviewing each product or service and assigning an inherent ML/TF/PF risk score. Business units can use product/service volumes, account balances or transactions to assess their exposure and the bank's overall inherent product/service risk. Accountable institutions should also be aware of new or innovative payment services and technologies delivered using the bank's services, even when not specifically offered by the institution. Where the institution adopts new products or technologies, the source says assessment must precede product launch and technology utilisation; this remains supervisory guidance, not a freestanding statutory duty.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 16
FICA requires accountable institutions to use a risk-based approach when carrying out customer due diligence.
The FIC Act requires accountable institutions to apply a risk-based approach when carrying out CDD measures.
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 20
Institutions must be able to demonstrate how they contextualise ML/TF risk within their business and its operational, line-management and strategic objectives.
Institutions must be able to demonstrate how they contextualise ML/TF risk within their business and its operational, line-management and strategic objectives.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 21
Recommends designing or adapting controls to address identified risks while allowing use of controls already in place.
Recommends designing or adapting controls to address identified risks while allowing use of controls already in place.
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 25
Risk treatment entails developing controls that address identified risks, with relevant available measures related to the particular risks; examples include CDD, relationship monitoring and product or channel measures.
Describes risk treatment through controls tailored to risks, including CDD, relationship monitoring and product/channel measures.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 26
The risk and risk-management concepts must be contextualised to the institution’s particular business and its operational, line-management and strategic objectives.
Risk and risk-management concepts must be contextualised within the accountable institution’s business and impact on its operational, line-management and strategic objectives.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 27
Risk-management mechanisms applied in individual cases must be relevant and proportionate to assessed risk likelihood, impact and consequences.
Institutions must apply risk mechanisms in individual cases in a manner relevant and proportionate to assessed risk likelihood, impact and consequences.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 28
Institutions should keep controls adequate as threats, products, markets and client circumstances change, and ensure staff adhere to them.
Describes continuous risk management and directs institutions both to keep systems and controls adequate as threats, products, markets and client circumstances change and to ensure that staff adhere to those controls.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 29
Recommends periodic reassessment of residual risk and review of the continuing adequacy of controls.
Recommends periodic reassessment of residual risk and review of the continuing adequacy of controls.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 30
Explains proportional risk treatment and flexible identity methods to support inclusion without undermining AML/CFT/CPF objectives; it also recommends aligning Treating Customers Fairly principles with the institution’s application of ML/TF/PF guidance.
Explains proportional risk treatment and flexible identity methods to support inclusion without undermining AML/CFT/CPF objectives; it also recommends aligning Treating Customers Fairly principles with the institution’s application of ML/TF/PF guidance.
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 33
Calls for processes to identify, analyse, and assess likelihood and impact of business-specific risks, proportionate to size and complexity.
Calls for processes to identify, analyse, and assess likelihood and impact of business-specific risks, proportionate to size and complexity.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 34
Risk-assessment mechanisms must be proportionate to institutional size and complexity; the process may range from simple to sophisticated with business structure and offerings.
Institutions must use risk-assessment mechanisms proportionately to their size and complexity; depending on institutional size, structure and product/service range, the process may be simple or sophisticated.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 35
Calls for risk identification to consider factors that may signal higher or lower threats and vulnerabilities.
Calls for risk identification to consider factors that may signal higher or lower threats and vulnerabilities.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 36
Institutions should decide how national risks in each operating jurisdiction affect their assessments and describe information sources and consideration processes in the RMCP; databases are optional.
Institutions should determine how national/jurisdictional risks influence assessment and document in the RMCP the information sources and consideration processes; use of databases is optional.
Assess Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 37
Indicator examples are non-exhaustive and neutral; institutions must consider other organisation- or sector-relevant factors and be able to demonstrate contextual indicator use in risk classification.
Examples are non-exhaustive and context-dependent; institutions must also consider relevant organisation/sector factors and be able to demonstrate their indicator-based classification.
Assess Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 37A
Institutions should assess risks from new offerings, practices and channels and from new or developing technologies used with both new and pre-existing offerings, before launch and ongoing after material changes; reflect the assessment in risk processes and the RMCP.
Assess risks from new offerings, practices and channels and new/developing technology across new and existing offerings, before launch and on an ongoing basis after material changes; reflect this in risk processes and the RMCP.
Assess Retain records
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 39
Institutions need a holistic view of client information across engagement points and should assess related product and service engagements as components of one client relationship.
A holistic view of client information across engagement points is needed to identify relevant factors and assess related products/services as one relationship.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 40
Risk assessment may be individual or grouped; a client assigned a group profile should actually meet that profile.
Assessment may be per person or by profile group; the institution should ensure each client assigned a group profile actually fits it.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
FIC Guidance Note 7B (3 August 2026) · Paragraph 40A
Underserved or low-income persons should not, as a whole, be deemed automatically to pose lower risk. A risk assessment must be conducted under the accountable institution’s risk-based approach and RMCP before a low-risk conclusion. The listed factors are illustrative, not a mandatory checklist. Factors include customer/legal form and ownership complexity, income and business activity, products and geography, product fit and public position, adverse public/commercial information, sanctions, regulatory exposure and supervision, penalties/adverse findings, relationship tenure and transaction patterns, and previously observed suspicious or unusual activity.
Underserved or low-income persons should not, as a whole, be deemed automatically to pose lower risk. A risk assessment must be conducted under the accountable institution’s risk-based approach and RMCP before a low-risk conclusion. The listed factors are illustrative, not a mandatory checklist. Factors include customer/legal form and ownership complexity, income and business activity, products and geography, product fit and public position, adverse public/commercial information, sanctions, regulatory exposure and supervision, penalties/adverse findings, relationship tenure and transaction patterns, and previously observed suspicious or unusual activity.
Assess
Assess applicability in workspace
Original wording is not reproduced. This view contains RegCanary's reviewed analysis, not a copy of the source text.
Financial Intelligence Centre under FICA section 43A(1)
13 of 13 collected provisions independently reviewed.
Explore every collected provisionFinancial Intelligence Centre under FICA section 43A(1)
11 of 11 collected provisions independently reviewed.
Explore every collected provisionFinancial Intelligence Centre
50 of 50 collected provisions independently reviewed.
Explore every collected provisionFinancial Intelligence Centre, in collaboration with National Treasury, South African Reserve Bank and Financial Sector Conduct Authority
234 of 234 collected provisions independently reviewed.
Explore every collected provisionFinancial Intelligence Centre; guidance accompanying Directive 3A of 2025
63 of 63 collected provisions independently reviewed.
Explore every collected provisionFinancial Intelligence Centre
88 of 88 collected provisions independently reviewed.
Explore every collected provisionParliament of the Republic of South Africa / Financial Intelligence Centre
152 of 152 collected provisions independently reviewed.
Explore every collected provisionMinister of Finance, under section 77 of the Financial Intelligence Centre Act, 2001
28 of 28 collected provisions independently reviewed.
Explore every collected provisionMinister of Finance under FICA section 77
8 of 9 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under section 43A(3) of the Financial Intelligence Centre Act 38 of 2001
23 of 23 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under Banks Act section 6(5)
41 of 41 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under Banks Act section 6(5)
80 of 80 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under Banks Act section 6(5)
29 of 29 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under section 6(5) of the Banks Act 94 of 1990
107 of 107 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under Banks Act section 6(5)
97 of 97 collected provisions independently reviewed.
Explore every collected provisionPrudential Authority under Banks Act section 6(5)
61 of 61 collected provisions independently reviewed.
Explore every collected provisionParliament of the Republic of South Africa
89 of 89 collected provisions independently reviewed.
Explore every collected provisionParliament of the Republic of South Africa
30 of 30 collected provisions independently reviewed.
Explore every collected provisionParliament of the Republic of South Africa
29 of 29 collected provisions independently reviewed.
Explore every collected provisionPresident of the Republic of South Africa
2 of 2 collected provisions independently reviewed.
Explore every collected provision