The receipt of the first STR (suspicious or unusual transaction report) in 2003, signalled the start of the Financial Intelligence Centre’s (FIC’s) journey as South Africa’s financial intelligence unit. As the national centre for gathering and analysis of financial data, the mandate of the FIC is to identify the proceeds of crime, combat money laundering and terror financing.

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.

The Intergovernmental FinTech Working Group (IFWG) has today released a report on its inaugural market outreach workshop, held 19 – 20 April 2018. The workshop gave a platform for regulators and policymakers to engage with industry, and to identify key considerations, working toward developing a harmonised approach to FinTech-driven innovations for the benefit of all South Africans.