CATEGORIES
- (27)Agriculture, Land Reform & Rural Development
- (26)Auditors & Accountants
- (6)Broad-based Black Economic Empowerment
- (5)Built Environment
- (56)Communications & Digital Technologies
- (2)Company Law
- (2)Consumer Law
- (21)Courts
- (2)Criminal Law
- (1)Cybercrimes
- (2)Disaster Management
- (12)Education & Training
- (4)Electoral Law
- (94)Environmental Law
- (4)Family Law
- (134)Financial Sector
- (3)Fisheries & Aquaculture
- (5)General Interest
- (19)Health & Safety
- (22)Home Affairs
- (3)Housing
- (15)In the Spotlight
- (1)International Co-operation
- (66)Justice & Constitutional Development
- (52)Labour Law
- (17)Legal Practice Council
- (20)Local & Provincial Government
- (24)Minerals & Energy
- (1)Monetary Policy
- (1)National Development Plan
- (17)National Treasury
- (69)New Legislation
- (13)Opportunities for Public Comment
- (6)POPIA
- (280)Parliament
- (1)Practice Management
- (4)Presidency
- (14)Property Law
- (8)Public Service
- (4)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)
- (19)Taxation
- (7)Tourism
- (61)Trade, Industry & Competition
- (36)Transport
- (16)Water & Sanitation
- Show All
MONEY LAUNDERING AND TERRORIST FINANCING: FINANCIAL INTELLIGENCE CENTRE ISSUES DIRECTIVES ON RISK AND COMPLIANCE RETURNS
- 02 April 2023
- Financial Sector
- SA Legal Academy
The Financial Intelligence Centre (FIC) has gazetted two directives on the risk and compliance returns to be submitted within specified time limits by:
- certain designated non-financial accountable businesses and professions (with the deadline set at 17:00 on 31 May 2023), and
- certain accountable institutions (with the deadline set at 17:00 on 31 July 2023).
The directives were gazetted late on Sunday 2 April 2023 and backdated to 31 March 2023, when they came into force.
Each directive specifies the categories of accountable business, profession or institution to which it applies – referring to the FIC Act’s amended Schedule 1, which came into effect on 19 December 2022.
According to a FIC notice on the new directives, stakeholder consultations took place in November and December 2022. Input is reflected in a feedback document apparently posted on the FIC website well after the directives were gazetted, with the notice.
- directive to designated non-financial businesses and professions
- directive to specified institutions
- amended Schedule 1
- notice
- consultation feedback document
Published by SA Legal Academy Policy Watch