CATEGORIES
- (23)Agriculture, Land Reform & Rural Development
- (20)Auditors & Accountants
- (4)Broad-based Black Economic Empowerment
- (4)Built Environment
- (48)Communications & Digital Technologies
- (2)Company Law
- (2)Consumer Law
- (10)Courts
- (2)Criminal Law
- (1)Cybercrimes
- (2)Disaster Management
- (8)Education & Training
- (3)Electoral Law
- (77)Environmental Law
- (4)Family Law
- (120)Financial Sector
- (2)Fisheries & Aquaculture
- (3)General Interest
- (13)Health & Safety
- (16)Home Affairs
- (3)Housing
- (10)In the Spotlight
- (1)International Co-operation
- (65)Justice & Constitutional Development
- (48)Labour Law
- (13)Legal Practice Council
- (15)Local Government
- (19)Minerals & Energy
- (1)Monetary Policy
- (1)National Development Plan
- (8)National Treasury
- (56)New Legislation
- (8)Opportunities for Public Comment
- (6)POPIA
- (258)Parliament
- (1)Practice Management
- (2)Presidency
- (13)Property Law
- (7)Public Service
- (3)Retirement Reform
- (11)Road Accident Fund
- (18)Safety and Security
- (6)Small Business Development
- (18)Social Development
- (8)Sport, Arts & Culture
- (13)State Owned Enterprises
- (4)State of Disaster (energy)
- (15)Taxation
- (5)Tourism
- (56)Trade, Industry & Competition
- (29)Transport
- (14)Water & Sanitation
- Show All
HIGH-VALUE GOODS DEALERS: FIC ISSUES COMPLIANCE COMMUNICATION
- 02 April 2024
- Financial Sector
- SA Legal Academy
The Financial Intelligence Centre (FIC) has issued a public compliance communication intended to provide guidance on what is meant by the term ‘high-value goods dealer’ in the context of Schedule 1 to FIC Act, 2001 (list of accountable institutions). This is noting that Schedule 1 was amended by a Government Gazette notice issued by National Treasury in November 2022.
According to an accompanying notice, the document:
- includes examples of potential money laundering, terrorist financing and weapons of mass destruction proliferation risks faced by dealers in high-value goods, and
- where appropriate, reflects input received during consultations on a draft version released in December 2022.
The FIC Act’s revised Schedule 1 has been in force since 19 December 2022.
- compliance communication
- notice
- consultation feedback
- National Treasury notice amending Schedule 1
Published by SA Legal Academy Policy Watch
Follow us on X @SALegalAcademy (you can also join us on LinkedIn and Facebook)
0 COMMENTS
There are not comments for this article at the moment, check back later.
LEAVE A COMMENT
You must be logged in to add a comment, log in now.