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Navigating FICA compliance with Cliffe Dekker Hofmeyr’s expert regulatory advisory services

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Navigating FICA compliance with Cliffe Dekker Hofmeyr’s expert regulatory advisory services

At Cliffe Dekker Hofmeyr (CDH), we recognise the importance of navigating the complexities of Financial Intelligence Centre Act 38 of 2001 (FICA) compliance for our clients’ businesses. Our dedicated FICA Advisory Team is committed to providing comprehensive advisory services designed to ensure your business meets the highest standards of FICA compliance, mitigating risks and avoiding penalties.

19 Jul 2024 1 min read FICA Advisory Alert Article

At a glance

  • South Africa could be removed from the Financial Action Task Force’s (FATF) grey list by this time next year.
  • This can be achieved if the Financial Intelligence Centre (FIC) continues to make progress on its action plan for addressing the weaknesses in the country's anti money-laundering and countering terrorist financing regime.
  • South Africa has only two reporting cycles, in September 2024 and January 2025, to address the outstanding items in terms of the action plan, and the FIC must demonstrate that the improvements made thus far are sustained and effective.

Our services include:

  • Conducting FICA applicability assessments and analyses to determine how FICA regulations apply to your specific business operations.
  • Advising on your FICA obligations to ensure compliance.
  • Developing customised risk management compliance programmes tailored to align with your business objectives and regulatory obligations.
  • Creating industry-specific risk matrices to address unique compliance challenges.
  • Assisting with practical implementation of FICA compliance and integrating a risk-based approach into your business operations.
  • Providing comprehensive training programmes to equip your team with essential knowledge and skills for achieving and maintaining FICA compliance.
  • Offering tailored legal advice on complex aspects related to transaction reporting under FICA.
  • Providing ongoing support throughout your compliance journey.

Our team comprises legal professionals with extensive expertise in FICA compliance and advisory services. We recognise the distinct features of your business and customise our advice to address your particular regulatory requirements and business operations. We provide forward-thinking, strategic advice in the context of a continuously changing regulatory environment.

For further information, please contact Cliffe Dekker Hofmeyr’s FICA Advisory Team at FICAAdvisoryTeam@cdhlegal.com.



The information and material published on this website is provided for general purposes only and does not constitute legal advice. We make every effort to ensure that the content is updated regularly and to offer the most current and accurate information. Please consult one of our lawyers on any specific legal problem or matter. We accept no responsibility for any loss or damage, whether direct or consequential, which may arise from reliance on the information contained in these pages. Please refer to our full terms and conditions. Copyright © 2024 Cliffe Dekker Hofmeyr. All rights reserved. For permission to reproduce an article or publication, please contact us cliffedekkerhofmeyr@cdhlegal.com.

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