Regulatory Alerts2022-04-14
FSCA AML CFT Body of Knowledge - April 2022
The Financial Sector Conduct Authority issues this April 2022 reference guide to standardize Anti-Money Laundering and Counter Financing of Terrorism compliance for South African accountable institutions. The document mandates the establishment of risk-based compliance frameworks, rigorous beneficial ownership verification, and ongoing client due diligence aligned with the Financial Intelligence Centre Act. It further outlines mandatory reporting obligations, targeted financial sanctions screening, and record-keeping requirements to ensure consistent regulatory adherence across the financial services sector.
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