Crime does not take a holiday: Avoid being scammed this festive season
The Financial Intelligence Centre’s 2024/25 annual report highlights how the country’s financial intelligence unit delivered on its mandate, achieved a clean audit, and contributed towards bringing South Africa closer to being de-listed as a jurisdiction under increased monitoring, commonly known as being ‘grey listed’.
Safeguarding South Africa’s economy: Highlights from the FIC 2024/25 Annual Report
The Financial Intelligence Centre’s 2024/25 annual report highlights how the country’s financial intelligence unit delivered on its mandate, achieved a clean audit, and contributed towards bringing South Africa closer to being de-listed as a jurisdiction under increased monitoring, commonly known as being ‘grey listed’.
Motor vehicle dealers face financial crime risks in the trade of high-value goods
Motor vehicle dealers are key players in South Africa’s economy but are also susceptible to money laundering, terrorism financing, and proliferation financing abuse. As movable goods, motor vehicles can be used by criminals to launder illicit funds.
Do not give criminals the luxury of a place to hide their proceeds of crime
Legal practitioners, including certain advocates, are reminded to register with the Financial Intelligence Centre (FIC) and play their part in combating money laundering, terrorist financing and proliferation financing in South Africa.
Estate agents and their targeted financial sanctions obligations
The investment in property provides a stable, high-value and secure asset, which makes this sector particularly vulnerable to money laundering and terrorist financing (ML and TF).
Drafting a risk management and compliance programme
Legal practitioners, including certain advocates, are reminded to register with the Financial Intelligence Centre (FIC) and play their part in combating money laundering, terrorist financing and proliferation financing in South Africa.
Financial Intelligence Centre 2023/24 highlights
Christopher Malan gives an update about the risk and compliance return
How accountable institutions can help fight financial crime by reporting to the FIC
All businesses have a role to play in combating money laundering, terrorist financing and proliferation financing in South Africa by ensuring their services are not knowingly or unwittingly exploited by criminals.
Accountable institutions must register and file risk and compliance returns with the FIC
Directives 6 and 7 require certain accountable institutions to submit information regarding their understanding of money laundering, terrorist financing and proliferation financing (ML, TF and PF) risks through a risk and compliance return (RCR). Failure to submit an RCR can lead to administrative action.