DocFox Africa

Is continuous screening necessary for FICA compliance? Spoiler: It’s essential! Discover why ongoing due diligence matters for protecting your business from financial crime. Watch this quick video to learn more! 🎥 https://lnkd.in/dNCvmhn2 #FICACompliance #AML #ContinuousScreening #Sanctions #KYC #CDD

Episode 7 of our FICA Compliance Obligations Series is here! 🎥 Are your compliance records up-to standard? Proper record keeping is critical to meet FICA compliance requirements and safeguard your business. In this episode, we break down everything you need to know about maintaining records that comply with the law. This video covers: * What records you need to keep under FICA. * How long you must store these records and in what format. * The rules around third-party record keeping and your responsibilities. 🎬 Don’t miss this important update to keep your business compliant and ready for inspections! https://lnkd.in/d4pG2PFd #FICACompliance #Recordkeeping #AccountableInstitutions #ComplianceEssentials

FICA FAQ Friday: Are You a High-Value Goods Dealer? In this week's FICA FAQ Friday, we’re answering a burning question: “Am I a High-Value Goods Dealer if I sell an item valued at R100,000 or more?” If you sell items worth R100,000 or more—even if payment is made in smaller installments—you’re classified as a High-Value Goods Dealer. As an High-Value Goods Dealer, you must comply with FICA regulations, which include: - Developing and implementing a Risk Management and Compliance Programme (RMCP) - Performing Customer Due Diligence (CDD) - Conducting ongoing FICA training 👉 Watch this week’s video for the full breakdown - https://lnkd.in/dYF4bau6 #FICACompliance #HighValueGoodsDealers #HVGDs #AccountableInstitutions #FIC

Join DocFox, FICA Compliance experts, Real Estate Investor(REI) and Broll Property Group (Pty) Ltd, on the 27th of November at 12:00 for an insightful webinar, where we will share Due Diligence Tips for Property Practitioners. Topics to be discussed: - Insight from the FICs 2023/2024 Report - The role of CDD when combating money laundering - Real-life cases of non-compliant property practitioners - Practical application and examples of CDD in Real Estate Register today - https://lnkd.in/dM7_zTZE

Join us for our 2024 round-up webinar tomorrow at 10:00, where we’ll unpack the highlights of the latest FIC Annual Report and reveal what every Accountable Institution needs to know to stay on top of evolving compliance standards. As South Africa works toward exiting the FATF grey list, we’ll dive into critical updates, regulatory shifts, and the FIC’s latest findings on non-compliance trends. Secure your seat today - https://lnkd.in/dQFuqRz8 #FICA #Webinar #FIC #Accountable Institutions #Compliance

🎥 Performing Customer Due Diligence (CDD): A Key to FICA Compliance! In Episode 5 of our FICA Obligation Compliance Series, we dive into one of the most critical components of compliance: Customer Due Diligence (CDD). What is CDD? It’s the process of collecting and analysing information about your clients to ensure they are who they say they are. This includes: - Verifying and identitying clients - Monitoring transactions and developing a risk rating scheme - Checking against third-party data sources, sanctions lists, and adverse media - Identifying if your client is a Politically Exposed Person (PEP) and performing enhanced due diligence Watch now - https://lnkd.in/d6iHRX_s #CustomerDueDiligence #AML #KYC #Sanctions Subscribe for more insight on FICA and KYC compliance!

In this week's FICA FAQ Friday, we take a look at what do you need to request when a lease gets renewed. As a property practitioner, you’re an Accountable Institution, which means ensuring your client’s information is accurate throughout your relationship is key! If the lessor or lessee’s details have changed, it’s time to request updated FICA documents to stay compliant. 👉 Watch this week’s video for the full breakdown - https://lnkd.in/d_iJZ_z7 #FICACompliance #PropertyPractitioners #FIC #FridayFICAFAQs

Tighter regulations ensure a more robust system that protects everyone, from individual savers to entire communities. Read more on Hawken McEwan's, Director of Risk & Compliance at DocFox take on how SA is closing the net on corporate secrecy here -https://lnkd.in/dnfFcSMS #SouthAfrica #FinancialCrime #FIC #UBO #FATF

As an Accountable Institution (AI), are you confident that your business is safe from financial crimes? Join our webinar to uncover the most critical FICA FAQs for AIs, providing you with the knowledge needed to navigate compliance confidently. During the webinar we will also discuss the FICA compliance obligations you need to follow and share insights on what to expect from a FIC inspection. Register here - https://lnkd.in/duz-TK-V #FICA #Compliance #AML #Webinar

🎥 Episode 4 of Our FICA Obligations Compliance series is out today! In this episode, we’re diving into the importance of developing, documenting, and maintaining an Risk Management and Compliance Programme (RMCP). Here’s what you need to know: - Your RMCP outlines how you identify, assess, and mitigate risks related to money laundering, terrorist financing, and proliferation financing. - Make sure to review and update your RMCP annually and after any changes in legislation or business practices. - Your senior management must sign off, and staff must be trained on the businesses RMCP 📺 Watch now and ensure your business stays FICA compliant - https://lnkd.in/dSeZ8uMt #RMCP #FICACompliance #AML #FinancialSecurity #DocFox 👉 Subscribe for more episodes in our FICA Compliance series!