Finance Intelligence Centre Act
The Financial Intelligence Centre (FIC) is established in order to identify the proceeds of unlawful activities and to combat money laundering activities. Its objectives will expand to make information collected by it available to investigating authorities, the intelligence services and the South African Revenue Services to facilitate, amongst others, the administration and enforcement of the laws of the Republic.
You will learn:
- Explain the purpose of the Finance Intelligence Centre Act
- Explain the requirements of the Act in terms of knowing the client.
- Explain the record-keeping function prescribed in the Act
- Explain how to report suspicious transactions
- Demonstrate knowledge and understanding of the consequences of non-compliance to FICA
Tel: 086 173 4372