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LexisNexis FICA webinar series cuts through complexity

South Africa’s FATF grey listing earlier this year served as a stark wake-up call revealing deficiencies in our adherence to global AML standards. In response, the FIC Act – a regulatory framework for identifying, assessing, and combating financial crime and anti-money…

Provided By LexisNexis

2023 round-up webinar: A summary of greylisting, new FICA directives & amendments

2023 has been a year filled with changes to FICA legislation, updates within the financial crime and compliance landscape and many more. Many of these changes were proactively taken, aimed at preventing a greylisting designation but also reactive responses based…

Provided By DocFox

Learnings from the 2022/2023 FIC Annual Report

There have been several changes to FICA legislation within the 2022/2023 period, from cash threshold increases for reporting, Schedule 1 Accountable Institution additions, to considerable...

Registering a private company in South Africa

Thinking of starting your own business? We have prepared a guide briefly outlining the steps to register a private company in the Republic of South...

by Greg Shapiro and Sarah Charlton

Amendments to Companies Act on the cards

The trade, industry and competition department announced that amendments to the Companies Act are on the cards during a briefing in parliament in a response...

Significant developments in reporting beneficial ownership

In recent months South Africa has witnessed significant legal advancements concerning beneficial ownership, prompted by the global money laundering and terrorist financing watchdog, the Financial...

by Nicolene Schoeman-Louw

What are Ultimate Beneficial Owners (UBOs) and why do they matter?

Those with less honourable intentions may look for opportunities to retain control over criminally derived assets by inhibiting the ability of law enforcement to trace...

SARS attempts to slow the bleed? New SARS application process to invest or emigrate overseas

The impending and eventual reality of the Financial Action Task Force (“FATF”) grey listing South Africa came with little surprise on 24 February 2023 to...

by Tanya Pollak

Recent important FICA amendments you should be aware of

The past few months have seen a wide variety of important amendments occurring within the Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) space. These changes began...

Financial Intelligence Centre Act: Increase in the number of sectors as accountable institutions

The Minister of Finance has officially amended the schedules to the Financial Intelligence Centre Act (Act no. 38 of 2001) (“the FIC Act”) through the...

by Zelmaine van der Westhuizen

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