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Financial Intelligence Centre Act 38 of 2001

The Financial Intelligence Centre Act (FICA) is South Africa's primary anti-money laundering (AML) and counter-terrorist financing (CTF) legislation,…

What Financial Intelligence Centre Act 38 of 2001 requires

The Financial Intelligence Centre Act (FICA) is South Africa's primary anti-money laundering (AML) and counter-terrorist financing (CTF) legislation, requiring accountable institutions to implement a risk-based approach, conduct customer due diligence (CDD) as per Section 21, maintain records, and report suspicious and unusual transactions to the Financial Intelligence Centre (FIC).

Pillar: Financial Crime, AML & Sanctions · Authority: Financial Intelligence Centre (FIC), South Africa · Version: 1.0.0 · Last updated:

Primary source: https://www.gov.za/documents/financial-intelligence-centre-act

SHA-256 integrity: f9b5d88932deb3a854bf5e5b535538bd5b207d00c8062471966ced516946d77d

Primary Citations — 7 traced to source

  • Financial Intelligence Centre Act 38 of 2001, Section 21 - Duty to identify clients and verify information
  • Financial Intelligence Centre Act 38 of 2001, Section 22 - Duty to keep record

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