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.
Designated advocates reminded to register with the FIC
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.
US-SA collaborate on cross-border crime
Intercontinental and domestic collaboration among law enforcement and criminal justice partners produce tangible results.
