The Financial Intelligence Centre Amendment Act (FICA ACT)
- South Africa National Treasury Department 2017
- 2p.
The FICA Act amends the existing Financial Intelligence Centre Act (2001) to strengthen South Africa’s ability to fight illicit financial flows and other forms of financial crimes, which include money laundering, corruption, terrorism financing and tax evasion. SA has been a member of the Financial Action Task Force (FATF) since 2003. FATF is an international body of countries tasked with setting best practices to combat money laundering and terrorism financing. SA is also a signatory to and ratified the United Nations (UN) Convention against Corruption in 2004.
