Contact

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

Back to top

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.

You might also be interested in

8 May 2024

by Lucinde Rhoodie and Dipuo Titipana

The ball is in our courts: How section 20(9) of the Companies Act empowers courts to unmask corporate identity

One of the cornerstones of South Africa’s corporate law is the separate legal existence of companies, which provides, generally, protection to its directors and shareholders against personal liability for a company’s debts and also makes a distinction between companies forming part of the same group of companies. However, sometimes, through the unlawful actions of shareholders and directors, it is necessary for our courts to look behind the separate legal entity companies in a group and treat such group companies as one legal entity.

Corporate Debt, Turnaround & Restructuring

5 min read

4 Oct 2024

by Jaco Meyer

Reflections on the 2024 Joburg Indaba

The 2024 Joburg Indaba (Indaba) can be aptly summarised in the words of Rafiki from The Lion King: “ Oh yes, the past can hurt. But the way I see it, you can either run from it, or learn from it.” 

Mining & Minerals

7 min read

23 Feb 2024

CDH bolsters its accomplished Dispute Resolution practice with key appointments

Cliffe Dekker Hofmeyr (CDH), a leading pan-African corporate and commercial law firm, is pleased to announce the appointment of two Directors Khaya Mantengu, who returns to CDH, and Sentebale Makara who both joined our esteemed Dispute Resolution practice in February 2024.

Firm News

2 min read

22 Feb 2024

by Ian Hayes and Sasha Schermers

Beneficial ownership: An update on beneficial ownership registration filings

Beneficial ownership filings have become a prominent administrative requirement since the Companies and Intellectual Property Commission (CIPC) implemented beneficial ownership filing procedures on 24 May 2023 in accordance with the then-promulgated Companies Amended Regulations, 2023 (Companies Regulations) published in the General Laws Amendment Act 22 of 2022. This alert deals with the most recent updates provided by the CIPC in Customer Notice 5 of 2024 and outlines who is required to file registration of beneficial ownership, what the updated timelines and deadlines are for filing registrations of beneficial ownership with the CIPC, and the consequences of failing to file beneficial ownershipregistration.  

Corporate & Commercial Law

3 min read

13 Sep 2024

by Kuda Chimedza

Insights on dealmaking and offered advice to young women working on their first deal

 Kuda Chimedza, Senior Associate in the Banking, Finance & Projects practice was featured in DealMakers Women 2024, where she shared insights on dealmaking and offered advice to young women working on their first deal.

Banking, Finance & Projects

1 min read

2 Apr 2024

by Jackwell Feris, Timothy Baker and Veronica Connolly

Early Detection of Fraud and/or Corruption in Arbitrations: Lessons from the Recent English Court Decisions?

Two recent English Commercial Court decisions serve as a warning to dishonest parties hoping to exploit the arbitral process to obtain or enforce fraudulent or corrupt arbitration awards. The English courts generally follow a non-interventionist approach when it comes to the challenge of enforcement of arbitral awards. However, these recent decisions signify that the Commercial Court can and will use its statutory powers to intervene, investigate and order disclosure to uphold the legitimacy of the arbitral process and parties’rights.  

Dispute Resolution

7 min read

This website uses cookies to enhance the browsing experience. For more information, please see our Cookie Policy.

Accept Decline