CATEGORIES
- (27)Agriculture, Land Reform & Rural Development
- (24)Auditors & Accountants
- (6)Broad-based Black Economic Empowerment
- (5)Built Environment
- (55)Communications & Digital Technologies
- (2)Company Law
- (2)Consumer Law
- (10)Courts
- (2)Criminal Law
- (1)Cybercrimes
- (2)Disaster Management
- (11)Education & Training
- (4)Electoral Law
- (90)Environmental Law
- (4)Family Law
- (132)Financial Sector
- (3)Fisheries & Aquaculture
- (5)General Interest
- (18)Health & Safety
- (22)Home Affairs
- (3)Housing
- (14)In the Spotlight
- (1)International Co-operation
- (74)Justice & Constitutional Development
- (50)Labour Law
- (16)Legal Practice Council
- (18)Local Government
- (23)Minerals & Energy
- (1)Monetary Policy
- (1)National Development Plan
- (16)National Treasury
- (63)New Legislation
- (12)Opportunities for Public Comment
- (6)POPIA
- (276)Parliament
- (1)Practice Management
- (4)Presidency
- (13)Property Law
- (8)Public Service
- (3)Retirement Reform
- (13)Road Accident Fund
- (21)Safety and Security
- (7)Small Business Development
- (21)Social Development
- (9)Sport, Arts & Culture
- (14)State Owned Enterprises
- (4)State of Disaster (energy)
- (18)Taxation
- (7)Tourism
- (61)Trade, Industry & Competition
- (35)Transport
- (15)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.