Financial Intelligence Centre

Welcome to the Financial Intelligence website

To establish and maintain an effective policy and compliance framework and operational capacity to oversee compliance and to provide high quality, timeous financial intelligence for use in the fight against crime, money laundering and terror financing in order for South Africa to protect the integrity and stability of its financial system, develop economically and be a responsible global citizen.

what's new

Significant progress in fight against money laundering: 2009 Annual Report
(Wednesday, December 02, 2009)
The Financial Intelligence Centre (FIC) continues to show a significant contribution in the fight against money laundering and crime in general. The Centre‟s 2009 annual reports shows that the Centre has referred to law enforcement agencies for further investigations, cases with a combined value of R6 billion during the 2008/2009 financial year

Financial Intelligence Centre Annual Report
(Wednesday, November 17, 2009)
The year under review has been an important landmark for the Financial Intelligence Centre and for South Africa’s anti-money laundering and combating of terrorist financing (AML/ CFT) system. The year marks the completion of the first full five-year period since the establishment of the Centre and the implementation of the country’s AML/ CFT framework as a "total system"

Medium Term Budget Policy Statement Speech by Minister of Finance
(Wednesday, October 28, 2009)
This is a difficult time for most of the world and for South Africa. But it is also a time of opportunity a time to face down adversity and proclaim that we will overcome its challenges. We will adapt to the new circumstances. We will not hesitate to do things differently, to act boldly! .

FATF Money Laundering in the Securities Sector
(Wednesday, October 28, 2009)
The securities sector is one of the core industries through which persons and entities can access the financial system. This report shows that the securities sector provides opportunities that criminals may also exploit. This sector is characterised by the speed of executing transactions; its global reach and its adaptability.

FATF Briefing to the UN Security Council
(Wednesday, October 28, 2009)
Paul Vlaanderen, FATF President briefed the United Nations Security Council Committee in New York on the 26th October 2009. “We place great importance on the relationship with the United Nations, in particular with your Committee (CTC) and its Executive Directorate (CTED), as well as with the the 1267 Committee, the 1540 Committee and the Vienna based UNODC.”

JOINT STATEMENT: Verifying and record keeping of clients identities
(Thursday, July 09, 2009)
The Ombudsman for Banking Services and the Financial Intelligence Centre have taken note of certain inaccurate information on some aspects of the Financial Intelligence Centre Act 2001 (FIC Act), as published in the Cape Argus newspaper and Independent Online website on 06 July 2009 under the headline: “Over-zealous managers put you at risk”.

Joint Media Release – JOINT INVESTIGATION INTO ALLEGATIONS OF FRAUD AND IMPROPRIETY IN INVESTMENT STRUCTURE
(Sunday, June 14, 2009)

PRETORIA, 14 June 2009 – An urgent meeting of South African law enforcement agencies was concluded on Friday, 12 June 2009, to co-ordinate their efforts, clarify their terms of reference and decide on a plan of action for a high level investigation into serious allegations including possible fraud, money laundering, tax evasion and foreign exchange control violation against Mr. Barry Tannenbaum and associated entities.

A special Task Team comprising of investigators from the Financial Intelligence Centre (FIC), the South African Revenue Service (SARS), the South African Reserve Bank (SARB), the South African Police Service’s (SAPS) Serious Economic Offences Unit and the National Prosecuting Authority has been established.
Click here to view the full media release.

South Africa's mutual evaluation report
(Friday, March 27, 2009)
The Financial Action Task Force (FATF) has published the full report on its recent mutual evaluation of South Africa’s measures against money laundering and terror financing. The report shows that South Africa has developed world standard Anti-Money Laundering and Combating the Financing of Terrorism policies, there is strong cooperation and coordination between government departments and agencies in the fight against money laundering and terror funding. The private sector is also integrally involved in making this an effective system. Click here to view the Financial Action Task Force (FATF) SA Mutual Evaluation Report (2.4 Mb) Click here to view the Executive Summary.

Proclamation Under Section 25 of the POCDATARA
(Thursday, February 12, 2009)
Notification by President in respect of entities identified by the United Nations Security Council: Section 25 of the Protection of Constitutional Democracy Against Terrorist and Related Activities Act, 2004:

Financial Action Task Force statement on the anti-money laundering and counter-terror financing systems of certain jurisdictions
(Monday, October 20, 2008)
On 16 October 2008, the Financial Action Task Force (“FATF”) released a statement on the anti-money laundering and counter-terror financing systems of certain jurisdictions. In particular the FATF called on its members to strengthen measures to guard against these risks with respect to the Republic of Uzbekistan and the Islamic Republic of Iran.

Click here to view the Financial Action Task Force (FATF) Statement on Iran and other countries

Financial Intelligence Centre Annual Report 2007-2008
(Monday, October 6, 2008)
Report of the Director of the Financial Intelligence Centre which gives an account of the Centre’s activities and achievements for the period 1 April 2007 to 31 March 2008.

The Financial Intelligence Centre Amendment Act
(Thursday, September 4, 2008)
The Financial Intelligence Centre Amendment Act, 2008 (Act 11 of 2008), was assented to by the President on the 27th of August 2008. The Act will come into operation on a date to be determined by the Minister of Finance by notice in the Government Gazette.

Important Information

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