FICA Compliance Solutions
Helping accountable institutions stay compliant with South Africa’s anti-money laundering laws.
The Financial Intelligence Centre Act (FICA) is South Africa’s primary tool against money laundering and financial crime.
At TTCS, we assist Financial Service Providers and other accountable institutions to build strong, risk-based compliance frameworks that meet the standards of the Financial Intelligence Centre (FIC) and the FSCA.
Our FICA Compliance Services
FICA Monitoring
- Ongoing monitoring aligned with the FIC’s risk-based approach.
- Preparing institutions for supervisory inspections and audits.
Risk Management & Compliance Programme (RMCP)
- Drafting and maintaining documented RMCPs tailored to your risk profile.
- Incorporating customer, product, geographic, and transaction risks.
Customer Due Diligence (KYC)
- Verifying customer identity and conducting ongoing due diligence.
- Enhanced due diligence for high-risk clients and transactions.
Record-Keeping & Reporting Obligations
- Ensuring records are stored for at least 5 years.
- Reporting cash transactions above R50,000.
- Guidance on suspicious and unusual transaction reporting.
Suspicious Transaction Reporting
- Identifying red flags for money laundering and terrorist financing.
- Preparing Suspicious Activity Reports (SARs) for submission to the FIC.
Employee Training & Awareness
- Ongoing FICA training for staff.
- Creating a culture of compliance across your institution.
Compliance Officer Support
- Advising on the appointment of a compliance officer.
- Ongoing guidance to ensure the officer fulfils all FICA responsibilities.
Why FICA Matters
Protect Clients
Strong KYC builds trust.
Protect Business
Avoid penalties, investigations, reputational damage.
Protect Country
Contribute to combating financial crime.