FIC: INPUT SOUGHT ON REVISED DRAFT CREDIT PROVIDER INTERPRETATION GUIDELINES

FIC: INPUT SOUGHT ON REVISED DRAFT CREDIT PROVIDER INTERPRETATION GUIDELINES

• 19 December 2024
• Financial Sector
• SA Legal Academy

The Financial Intelligence Centre has called for comments by 7 February 2025 on a revised draft public communication intended to assist in determining what is meant by the term ‘credit provider’ in the context of:

• item 11 of Schedule 1 to the 2001 Financial Intelligence Centre (FIC) Act, and
• the 2005 National Credit Act.

Once finalised, the communication is expected to provide:

• ‘guidance on the practical interpretation and application’ of the term, and
• ‘an overview of certain anti-money laundering, counter terrorist financing and counter proliferation financing vulnerabilities’.

The revised draft communication is informed by input received on a first draft released in December 2022 for public comment. This input is summarised in an accompanying consultation feedback note.

Submissions on the revised draft should be made using the template provided.

• notice calling for input
• draft public communication
• consultation feedback note
• comments template
• FIC Act updated to reflect recent amendments  

Published by SA Legal Academy Policy Watch

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