Regulatory Alerts2026-07-08
Added
Financial Intelligence Act 13 Of 2012
The Financial Intelligence Act establishes the Financial Intelligence Centre as the national body for collecting and analyzing suspicious transaction reports related to money laundering or terrorism financing. It mandates accountable and reporting institutions to identify clients, conduct due diligence, maintain records, and report suspicious activities, while defining beneficial ownership at a 20% threshold. The Act also requires the Registrar of Companies to collect annual ownership data and imposes fines up to N$10 million or imprisonment for non-compliance.
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