FICA

31. FICA – Financial Intelligence Centre Act

In terms of Section 1 of the Financial Intelligence Centre Act (FICA) 38 of 2001 an ‘accountable institution’ means a person referred to in Schedule 1. Schedule 1 lists an estate agent as defined in the Estate Agents Act, 1976 (Act 112 of 1976) as an accountable institution. Therefore, all estate agents are obliged to comply with the FICA rules as set out in the Act and the regulations. Identity...

O10. The Financial Intelligence Centre Act, 38 of 2001 (FICA)

Purpose of the Act To establish a Financial Intelligence Centre and a Money Laundering Advisory Council to combat money laundering activities and the financing of terrorist and related activities; to impose certain duties on institutions and other persons who might be used for money laundering purposes and the financing of terrorist and related activities; to amend the Prevention of Organised Crime Act,...

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