26 Mar 2024
Everything you need to know about FICA
There can't be many South Africans who haven't come across FICA and the need for compliance, either in their personal or business affairs. FICA, or the Financial Intelligence Centre Act, is a legal framework set up in an effort to identify the proceeds of unlawful activities and to attempt to put a stop to money laundering and terrorist financing. It is partly due to international concern about South Africa's response to the threat of financial crimes that has led to our country's greylisting. 3Cube Property Solutions takes a close look at FICA and everything you need to know about this legislative framework.
