CURBING MONEY LAUNDERING, TERRORISM FINANCING: FIC REFERENCE GUIDE PUBLISHED

CURBING MONEY LAUNDERING, TERRORISM FINANCING: FIC REFERENCE GUIDE PUBLISHED

• 09 January 2023
• Financial Sector
• SA Legal Academy

The Financial Intelligence Centre (FIC) has issued a reference guide intended to assist accountable institutions in their efforts to comply with FIC Act requirements. These were recently revised by the 2022 General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, most sections of which came into force on 31 December 2022.

Published shortly before the 2022/23 festive season, the new guidelines unpack a range of issues associated with the obligations of accountable institutions under the amended Act. They should not be confused with six sets of industry-specific draft guidelines on amendments to the FIC Act schedules, which were released in December for stakeholder input.

• reference guide
• General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022
• amendment Act commencement notice

Published by SA Legal Academy Policy Watch

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