The Financial Intelligence Centre (FIC) is pleased to advise that the National Treasury (on behalf of the Minister of Finance) on Thursday, 28 February 2019 invited public comments on draft regulations on international funds transfer reporting and cash threshold reporting.

The Financial Action Task Force (FATF) identifies jurisdictions that have strategic deficiencies in their measures against money laundering and terrorist financing.

The Financial Intelligence Centre (FIC) has issued Draft Directive 5/2019 on the usage of an automated transaction monitoring system for the detection and submission of regulatory reports to the FIC in terms of section 29 of the FIC Act, 2001 (Act 38 of 2001).

The Financial Intelligence Centre (FIC) has issued Public Compliance Communication 40 (PCC 40) to provide guidance to supervisory bodies regarding the conditions of their licence, registration, approval or authorisation processes in meeting their responsibilities to supervise and ensure compliance with the FIC Act by the respective accountable institutions regulated by them, as required by sections 45 and 45(1B)(e) of the FIC Act.

The Financial Intelligence Centre (FIC) has updated existing guidance relating to suspicious transaction reporting (STR) in terms of section 29 of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (FIC Act).

The Financial Intelligence Centre (FIC) has issued Draft Public Compliance Communication 101 (PCC 101) to provide guidance to supervisory bodies regarding the conditions of their licence, registration, approval or authorisation processes in meeting their responsibilities to supervise and ensure compliance with the FIC Act by the respective accountable institutions regulated by them, as required by sections 45 and 45(1B)(e) of the FIC Act.

October 2018 - The Financial Action Task Force (FATF) identifies jurisdictions that have strategic deficiencies in their measures against money laundering and terror financing.

The Financial Intelligence Centre (FIC) and the South African Reserve Bank (SARB) today formalised a memorandum of understanding committing them to collaboration and co-operation in the fulfilment of their respective legislative obligations.

This booklet gives insight on some of the methods criminals use to abuse the financial system.

South Africa participated in the third meeting of the Financial Action Task Force (FATF) session under the Argentinian Presidency in Paris, France, from 24 to 29 June 2018.

This inaugural Intergovernmental Fintech Working Group (IFWG) market outreach is a significant event for regulators of financial services in South Africa. It signals the importance of financial technology (fintech).

This booklet gives insight on some of the methods criminals use to abuse the financial system. The nine case studies illustrate different types of criminal activities and demonstrate how the FIC’s financial intelligence reports are pivotal in helping to solve a crime or secure a prosecution.

The Financial Intelligence Centre (FIC) has updated its registration requirements for accountable and reporting institutions, in line with the amendments to the relevant sections of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001).

This publication provides indicators developed from case studies to assist the reader in identifying potential criminal financial activity. In this publication the FIC uses case studies to illustrate how criminal incidents can occur and how criminals operate.

Advisory: Financial Action Task Force statements on Jurisdictions with strategic anti-money laundering and counter-terror financing deficiencies – February 2018

The Financial Intelligence Centre welcomes the appointment by the Minister of Finance, Mr Malusi Gigaba, of Advocate Xolisile Jennifer Khanyile as the Director of the FIC.

The Minister of Finance determined the commencement dates of certain sections of the Financial Intelligence Centre Amendment Act, 2017 (Act 1 of 2017) (FIC Amendment Act) on 13 June 2017.

The National Treasury and the Financial Intelligence Centre (FIC) welcome the decision taken by the Financial Action Task Force (FATF) at its Plenary meeting held in Buenos Aires, Argentina on 1 to 3 November 2017 to remove South Africa from its targeted follow-up process.

The Financial Action Task Force (FATF) identifies jurisdictions that have strategic deficiencies in their measures against money laundering and terror financing in order to protect the international financial system from money laundering and terror financing risks and to encourage greater compliance with its international standards on combating money laundering and terror financing.

New guidance on the amended reporting requirements in terms of the Money Laundering and Terrorist Financing Control Regulations

Second draft Amendments to regulations and draft withdrawal notice of exemptions for public comments

One of the objectives of the Financial Intelligence Centre Act, 2001, (the FIC Act) is to bring about transparency in the financial system. Transparency in the financial system implies that it can be easily established who is doing business with financial and non-financial institutions and what the nature of that business is.

South Africa participated in the third meeting of the Financial Action Task Force (FATF) session XXVIII, under the Spanish Presidency in Valencia from 18 to 23 June 2017. At this meeting the FATF continued work on a number of important initiatives relating to its mandate to promote effective implementation of measures against money laundering, terrorist financing and other related threats to the integrity of the international financial system.

The Financial Intelligence Centre (the Centre) in collaboration with the National Treasury, South African Reserve Bank and Financial Services Board has published draft guidance that will be required to support the implementation of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017) (the Amendment Act) when it takes effect.

The Minister of Finance, Mr Malusi Gigaba, has signed and gazetted the coming into operation of various provisions of the Financial Intelligence Centre Amendment Act, 2017 (Act 1 of 2017) (FIC Amendment Act). The FIC Amendment Act was signed into law by the President on 26 April 2017 and gazetted on 2 May 2017 (Annexure A), but the determination of the commencement date was left to the Minister of Finance.

Act No. 1 of 2017: Financial Intelligence Centre Amendment Act, 2017

The Financial Intelligence Centre (FIC) is pleased that the Financial Intelligence Centre Amendment Act has been signed by the President.

Institutions given guidance on responding to requests for information from the Financial Intelligence Centre

The Financial Intelligence Centre (FIC) distances itself from a scam payment release order letter which has been put in circulation by criminal scamsters claiming that recipients stand to win or gain inheritance funds.

South Africa participated in the second meeting of the Financial Action Task Force (FATF) session XXVIII, under the Spanish Presidency in Paris from 18 to 24 February 2017.

This notice explains the process to be applied by reporting entities when remediating or fixing failed and/or rejected batch reports on goAML.

In the FATF’s Public Statement, issued on 21 October 2016, the FATF draws attention to the risks emanating from deficiencies in the systems to combat money laundering and terror financing in the Democratic People’s Republic of Korea (DPRK) and the Islamic Republic of Iran (Iran)

NOTICE: Issue Paper on guidance required to implement the Financial Intelligence Centre Amendment Bill, 2016 published

The Financial Intelligence Centre (FIC) has become aware of a letter and “certificate” which make fraudulent use of the FIC logo and impersonate FIC staff.

URGENT NOTICE: To accountable and reporting institutions on registration and reporting on the Financial Intelligence Centre’s existing registration and reporting platform